South Korea’s won crypto market ‘highly concentrated’ as Upbit holds sway, study finds

South Korea’s won crypto market ‘highly concentrated’ as Upbit holds sway, study finds | MLex

30 Jan Crypto News

By Jenny Lee ( January 30, 2026, 10:17 GMT | Insight) — South Korea’s won-based crypto trading market has grown rapidly in recent years, but competition has narrowed sharply around a handful of exchanges led by Upbit, according to a new competition impact assessment, raising classic dominance and foreclosure questions for regulators now debating “phase two” legislation for virtual assets.South Korea’s won-based crypto trading market has grown rapidly in recent years, but competition has narrowed sharply around a handful of exchanges led by Upbit, according to a new competition impact assessment, raising classic dominance and foreclosure questions for regulators now debating “phase two” legislation for virtual…

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South Korea’s won crypto market ‘highly concentrated’ as Upbit holds sway, study finds | MLex