South Korea ' booming bitcoin industry places it above China as the third - largest currency user in the world , according to CryptoCoinsNews and Coin Telegraph . The financial authorities will also improve laws and systems. The country 's daily trading volume recently reached 5000 USD ( $ 58 m ) , representing an overall market share of 5.55 % , compared to China ’s 4.97 % . Yen and US dollar volumes led the market by a significant margin . The increase comes as a result of virtual markets moving away from China following its recent clampdown on the bitcoin industry , according to Bloomberg .
South Korea ' booming bitcoin industry places it above China as the third - largest currency user in the world , according to CryptoCoinsNews and Coin Telegraph . The country 's daily trading volume recently reached 5000 USD ( $ 58 m ) , representing an overall market share of 5.55 % , compared to China ’s 4.97 % . Yen and US dollar volumes led the market by a significant margin . The increase comes as a result of virtual markets moving away from China following its recent clampdown on the bitcoin industry , according to Bloomberg .