The cryptocurrency landscape continues to evolve rapidly, with regulatory developments and market movements shaping investor sentiment. One of the most significant recent announcements comes from South Korea, where a new real-name trading policy for digital assets takes effect on March 25. This change marks a pivotal moment in the country’s approach to crypto regulation and sets the stage for increased compliance and transparency in the industry.
At the same time, global market trends reflect ongoing volatility, with major cryptocurrencies experiencing downward pressure. Meanwhile, institutional insights from financial giants like Goldman Sachs and中信证券 (CITIC Securities) offer valuable context on macroeconomic conditions that could influence both traditional and digital asset markets in the coming months.
Market Overview: Bitcoin and Altcoins Face Short-Term Pressure
As of March 22, the broader crypto market is seeing a pullback in prices across major digital assets.
- Bitcoin (BTC): Trading at $56,700.03, down 0.94% over 24 hours
- Ethereum (ETH): Priced at $1,763.45, a decline of 1.54%
- Litecoin (LTC): Down 2.09% to $191.68
- OKB: Dipped 2.62% to $13.80
Despite the overall bearish trend, some DeFi tokens are showing resilience and even gains on the欧易OKEx platform:
- SUN: +21.35%
- HDAO: +11.45%
- TRB: +10.07%
Market data from 欧易OKEx indicates that BTC futures have an open interest of $2.904 billion, with a long-to-short ratio of 1.09 among traders. However, active sell volume exceeds buy volume by approximately $146 million, signaling short-term bearish sentiment. Among professional traders, 58% hold long positions versus 37% short, with average position sizes at 25.2% and 15.29%, respectively.
Key Industry Developments
South Korea Enforces Real-Name Crypto Trading Starting March 25
Starting March 25, South Korea will implement a mandatory real-name system for cryptocurrency trading—a move aimed at curbing money laundering and enhancing financial oversight.
According to reports from Korean Broadcasting System (KBS), the surge in virtual asset trading—now nearly ten times larger than three years ago—has prompted stricter regulations. With more users entering exchanges, authorities are prioritizing transparency and accountability in digital finance.
Under the new rules:
- Only individuals who verify their identity through bank-linked accounts can trade on licensed platforms
- Exchanges must comply with anti-money laundering (AML) protocols and report suspicious activities
- Unverified accounts will no longer be able to deposit or withdraw funds
This shift aligns South Korea with other regulated markets and may serve as a model for balancing innovation with consumer protection.
Expert Insight: Digital Currency Will Not Disrupt Monetary Policy
Former China Securities Regulatory Commission (CSRC) Chairman Xiao Gang recently shared his views on central bank digital currencies (CBDCs) during an appearance on National Wealth Lecture Hall.
He emphasized that digital currencies issued by central banks—such as China’s e-CNY—are designed to replace physical cash (M0), not broader monetary aggregates like M1 or M2.
Key takeaways from his analysis:
- CBDCs will operate under a two-tier system, where the central bank distributes digital currency to commercial banks, which then provide it to the public
- Usage rules mirror those of physical cash, including limits on withdrawals and cross-border transfers
- The goal is convenience and efficiency in retail payments—not monetary disruption
Xiao also noted that while digital currency may influence banking infrastructure and payment ecosystems, it won’t alter the fundamental mechanisms of monetary policy.
Macroeconomic Outlook: Stimulus and Monetary Policy Trends
Goldman Sachs Forecasts Up to $4 Trillion in New U.S. Stimulus
Goldman Sachs economists predict that the next round of U.S. fiscal legislation could total up to $4 trillion, combining infrastructure spending with social investments in healthcare, education, and childcare.
Funding for this plan may come from proposed tax reforms, including:
- Raising the corporate tax rate from 21% to 28%
- Increasing taxes on global intangible low-taxed income (GILTI)
- Introducing a minimum corporate tax threshold
Such measures could impact investor sentiment across asset classes, particularly growth-oriented tech and crypto sectors sensitive to interest rate expectations.
CITIC Securities: Low Likelihood of Aggressive Monetary Tightening in 2025
CITIC Securities has assessed that despite rising inflation indicators—particularly in producer prices (PPI)—a sharp tightening of monetary policy in 2025 remains unlikely.
Their reasoning includes:
- Ongoing post-pandemic economic recovery remains moderate
- Government policy guidance emphasizes stability and continuity (“no sudden turns”)
- Inflationary pressures are seen as temporary rather than structural
This suggests a supportive environment for risk assets, including cryptocurrencies, over the medium term.
Platform Updates: OKX Enhances Token Support and User Engagement
BOT to AUCTION Migration at 1:100 Ratio
In line with Bounce.finance’s official migration plan, OKX supports the conversion of BOT tokens into AUCTION at a ratio of 1:100. The following schedule applies:
- March 22, 12:00 HKT: All BOT trading pairs suspended; outstanding orders canceled
- March 23, 15:00 HKT: BOT deposits, withdrawals, and transfers disabled
- March 23, 18:00 HKT: Account snapshot taken; migration process begins
Users are advised to ensure their holdings are settled before these deadlines to avoid delays.
👉 Stay ahead of token migrations and upgrade opportunities across leading DeFi projects.
Frequently Asked Questions
Q: What does South Korea’s real-name crypto rule mean for international users?
A: While the regulation directly affects domestic exchanges and Korean residents, it sets a precedent for stricter KYC standards globally. International platforms may adopt similar practices to align with regulatory expectations.
Q: How does a real-name system reduce illegal activity in crypto?
A: By linking digital wallet activity to verified identities and bank accounts, authorities can track transactions more effectively, making it harder to use cryptocurrencies for money laundering or fraud.
Q: Will China’s digital yuan replace existing payment apps like WeChat Pay?
A: No—it aims to replace physical cash, not private payment systems. Users will still use platforms like WeChat and Alipay, but these services may integrate CBDCs for settlement.
Q: Can I still trade BTC if I don’t complete KYC?
A: On regulated exchanges operating under AML laws (like those in South Korea or the EU), full verification is typically required for trading and withdrawals. Peer-to-peer or decentralized platforms may have different requirements.
Q: Is now a good time to invest during market dips?
A: Market corrections can present entry opportunities, especially for long-term investors. However, thorough research and risk assessment are essential before making decisions.
Q: How do token swaps like BOT to AUCTION work?
A: Platforms like OKX handle the technical aspects automatically after taking a snapshot. Users don’t need to manually initiate the swap—the new tokens appear in their accounts once processed.
Final Thoughts
Regulatory milestones like South Korea’s real-name trading policy underscore the maturation of the crypto ecosystem. As governments seek to balance innovation with oversight, compliant platforms and informed investors stand to benefit most.
Meanwhile, macroeconomic signals—from stimulus plans to central bank policies—continue to shape market dynamics. Staying updated on both regulatory shifts and technological upgrades is crucial for navigating today’s complex digital asset landscape.