The Korea Financial Intelligence Unit (KoFIU) conducted a survey on 25 registered virtual asset service providers (VASPs) to assess the current state of the domestic virtual asset market and keep relevant statistics up to date.

Survey Overview

(Respondents)  25 VASPs (17 exchange service providers and 8 custody and wallet service providers)

(Survey Method)  Data collected from VASPs

(Period Covered)  January 1, 2025 to June 30, 2025

Key Survey Findings for H1 2025

The price increases in virtual assets and expansion of market size observed into the second half of 2024 slowed down in the first half of 2025. Compared with the previous six-month period, the number of users eligible to trade (up 1.07 million or 11%) went up. However, average daily trading volume (down KRW0.9 trillion or 12%), total operating profits (down KRW134.8 billion or 18%), market capitalization (down KRW15.4 trillion or 14%), and total amount of deposits (down KRW4.5 trillion or 42%) all decreased.

However, over the same six-month period, the coin-only exchange market saw growth in average daily trading volume (up KRW450 million or 286%) and market capitalization (up KRW366.5 billion or 298%), despite continuing market dominance by KRW-based exchange service providers.

External transfers of virtual assets to the registered entities increased in terms of both travel rule transactions (up 4%) and to the whitelisted overseas entities and personal digital wallets (up 4%).

The total size of virtual assets in custody and wallet services (down KRW0.7 trillion or 50%) declined significantly due to drops in base prices and their number of users (down 523 or 41%).

* Please refer to the attached PDF for details.