KBR Reports

KBR Reports

Explore our latest research on Korea’s and the global blockchain and Web3 markets.

Is Korea’s Crypto Market Truly a Fair Playing Field?
marketFeb 2026

Is Korea’s Crypto Market Truly a Fair Playing Field?

A six-part series examining the structure and fairness of Korea’s virtual asset market—from KRW-market concentration and the one-exchange–one-bank practice to exchange-centric infrastructure, information asymmetry, global competitiveness, and policy reforms.

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Part 1. KRW Market Concentration and the Shadow of Fair Competition
marketFeb 2026

Part 1. KRW Market Concentration and the Shadow of Fair Competition

This report analyzes the concentration of Korea's crypto trading market in the KRW market, the Upbit–Bithumb duopoly, competition and fairness issues arising from market concentration, and the background including the one-exchange–one-bank arrangement.

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