The virtual currency frenzy sees no signs of cooling in South Korea despite regulators' plans to intervene
South Korean regulators recently announced measures to curb young citizens from entering the speculative cryptocurrency market but it appears that there is just no stopping the frenzy that's hitting the country.
A Reuters report says that students in a local university are known to organise meet ups in a classroom to share tips of investing in cryptocurrencies. They have even founded a club together, by the name of Cryptofactor - as they say that the campus offered a lack of dedicated cryptocurrency classes.
"I no longer want to become a math teacher. I've studied this industry for more than 10 hours a day over months, and I became pretty sure that this is my future", said 23-year-old Eoh Kyong-hoon, who founded the club, Cryptofactor.
Eoh mentioned that talks of regulation has not put a dent in his plans, after making what he claims to be 20-fold gains on his investments over the last six months.
Another member of the club had this to say:
"I literally knew nothing about cryptocurrencies or the economy. Everyone here has taught me a lot. I can have two jobs maybe, one as an athlete and another as an investor," said Lee Ji-woo, a 22-year-old sports industry major.
South Korea remains one of the largest markets for Bitcoin, as I've noted that here earlier in the month that at one point it contributed to about 1/4 of Bitcoin trading activity.
