South Korea needs to "speed up the process of institutionalizing digital assets" and "move quickly" or risk falling behind in international competition, said Jeong Eun-fu, chairperson of the Korea Exchange, in an interview with Mainichi. He pointed out that the average daily trading volume of the Korean stock market is about 20 trillion won (about 14 billion dollars), while the trading volume of the cryptocurrency market has exceeded this level since Trump was elected US president. Zheng Eun-fu emphasized that the size and influence of the cryptoasset market has developed to a point that the traditional market cannot be ignored, and the heads of exchanges in various countries had in-depth discussions on this at the recent World Federation of Exchanges (WFE) summit. It is worth noting that the Korean cryptocurrency market is unique, mainly dominated by retail investors. At present, no cryptocurrency companies are listed on Korean exchanges, and companies cannot use their balance sheets to buy cryptocurrencies. Bitcoin spot ETFs have not yet been approved.