Minho Leem, a digital asset analyst at Shinrong Securities, said the volatility in the South Korean crypto market after President Yoon Seok-yeok issued a brief martial law could prompt calls for regulatory reform. In the longer term, the incident exposes the fragility of the crypto market in dealing with the special circumstances in South Korea, which accounts for nearly 11% of global cryptocurrency trading volume and whose closed structure remains a concern. The South Korean government may explore ways to ensure liquidity and increase transparency on exchanges through a real-time anomalous trading monitoring system.