Global Crypto Market Hits $3 Trillion Milestone

The global cryptocurrency market capitalization has now exceeded the $3 trillion mark, sparking discussions among experts about the urgent need for legal and institutional frameworks to ensure the stable development of the virtual asset market.

Expert Insights on Market Stability

Lee Yong-jae, president of the International Finance Center, highlighted at a recent seminar the necessity of institutional support for the healthy growth of the virtual asset market, emphasizing the importance of financial market stability and consumer protection.

Global Trends and Challenges

With the U.S. leading in virtual asset accumulation and deregulation, and emerging countries like Turkey expanding their use, the integration of virtual assets into traditional finance is accelerating. Yet, risks such as capital outflows and money laundering remain significant concerns.

The Road Ahead

Experts point out the lack of a legal foundation in some regions, including Korea, for core elements of the virtual asset market. The development of regulations and public-private cooperation systems is seen as vital for the future of digital finance.