Bank of Korea : Market Risk due to Crypto Exposure is “Insignificant”

According to a report from a popular media outlet in South Korea ,Yonhap, the amount of crypto related asset investments are relatively low, compared with South Korea’s other local financial institutions and equity markets. The exceptional amount of 2 trillion won (approximately 1.79 billion USD) in the domestic banks’ virtual currency accounts was considered to be relatively low as it only equated to around 8%of the total deposits operated under the South Korea’s brokerage houses which valued around 26 trillion won ( approximately 23.27 billion USD). The report further indicates that the risk of these newly emerging assets causing substantial impacts towards the traditional local financial markets are limited .