According to a survey conducted by the Bank of Korea (BOK) on March 27, young citizens in their twenties and thirties need not only to become familiar with cryptocurrencies but also to join the frenzy of digital currency.

BOK’s survey revealed that 21.6% of the 2511 respondents knew the digital currency.

In this 21.6% of cases, the awareness rate of respondents in twenties and thirties respectively rose to 29.4% and 40.3%. On the other hand, among those who are eager to invest in encryption technology, the proportion of people under the age of 20 is 24.2%, while that of people in their 30s is 20.1%.

As for the older population, these figures are obviously smaller. Only 5.7% of people aged 60 and 70 said they had heard of cryptocurrencies, and only 6.8% and 8.3% claimed that they would invest in cryptocurrencies.

In October 2017, Bank of Korea governor Lee Ju-yeol said that cryptocurrencies such as Bitcoin (BTC) will be regulated as commodities in the country rather than currencies:

“According to the [definition] of the Bank for International Settlements (BIS), it is difficult to think of [virtual currency] as a currency. Supervision (on virtual currency) is appropriate because it is regarded as a commodity. It cannot be regulated at the currency level.”

Recently, Cointelegraph reported that 21.2% of U.S. college students use loan funds to invest in cryptocurrencies, while employees in the encryption industry are more willing to pay in cryptocurrency

 

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