South Korea’s Five Largest Crypto Exchanges See Spot Volume Fall 33%

Spot trading volume at South Korea’s five largest cryptocurrency exchanges fell 33% quarter over quarter in the second quarter, a sharper decline than at the world’s 10 largest exchanges and a sign of weaker domestic trading activity. South Korea plans to begin taxing crypto in January 2027. Overseas trading and transfers to private wallets still pose regulatory blind spots in the country. A suspected large buyer was linked to a purchase of 1,162 Bitcoin (BTC) through Wintermute, valued at $96.77 million. A Galaxy Digital over-the-counter client transferred 134,000 Chainlink (LINK), worth $1.73 million, to Binance, potentially for a sale.