Down 33.0% quarter on quarter. First, let’s reconcile the two totals: spot trading on South Korea’s five major won-denominated exchanges was about $146.7 billion in Q2, versus $218.8 billion in Q1. It’s easy to read this as meaning they can only offer spot trading and are losing competitiveness, but the source doesn’t say that any new restriction took effect this quarter, and regulators still haven’t given a timeline for derivatives. The sharp quarter-on-quarter decline doesn’t line up with the claim that “the impact of the ban happened entirely this quarter.” $COINB is currently at 182.95, up 1.76% over 24 hours. Derivatives integration was only completed this month, and the price has followed up modestly—hardly proof that “the side with futures has already won.” The figures don’t tell us whether global spot trading also shrank over the same period, or whether won-denominated funds flowed into overseas derivatives. So the causal link remains unproven.
#韩国监管 #现货