Foreign Accounts Total 566,352, Active Accounts Only 90

A total of 566,352 foreign accounts have been registered with the five major cryptocurrency exchanges in South Korea, but only 90 of these were active in July. This indicates that a significant number of foreign accounts do not lead to actual trading. Among these, only 517 accounts have completed customer identity verification (KYC), accounting for just 0.09% of the total, while the number of active accounts in the same month was only 90, representing 0.01%. By exchange, Bithumb has the highest number of foreign accounts at 484,846, but currently, it has recorded zero active accounts. Foreigners hold approximately 2.58 billion KRW in deposits and about 30.36 billion KRW in cryptocurrency across the five exchanges. This data highlights the gap between simply registered accounts and those that are actually capable of trading, suggesting that many foreign accounts may have been created before the tightening of KRW trading restrictions in 2021. Out of all foreign accounts, 517 have completed KYC, and only 90 are active, clearly showing the disparity between dormant accounts and those in actual use.

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