The Office of the President of the Republic of Korea is
challenging the Financial Services Commission’s (FSC) stance against spot Bitcoin
exchange-traded funds (ETFs). The call for reconsideration comes merely a week
after the FSC’s cautionary statement against trading US-based spot Bitcoin
ETFs, prompted by the SEC’s approval in the United States.
According to a report by a Korean media publication,
The Office of the President of the Republic of Korea has urged the FSC to adopt
a more nuanced approach rather than a definitive “yes” or
“no,” indicating a potential shift in the regulatory landscape.
The FSC, a key financial regulator in South Korea,
recently issued a warning about domestic securities firms trading or brokering
overseas-listed spot Bitcoin ETFs, suggesting possible violations of the
Capital Markets Act.
However, the Office of the President of the Republic
of Korea has requested the FSC to refrain from taking a rigid stance and
explore changes to accommodate global developments. Tae-yoon Sung, head of the
presidential policy office, emphasized the need to assess foreign practices for
potential adoption in the Korean legal system.
Investor Perspectives and Market Trends
Despite the FSC’s reluctance toward US-based spot
Bitcoin ETFs, domestic investors may find alternatives more accessible, such as
direct investment or Ethereum futures ETFs. IBK Investment & Securities
predicts a solid demand for individual investors to directly engage in the
cryptocurrency market.
Additionally, the Office of the President of the
Republic of Korea emphasizes the need for appropriate legal adjustments and
considers international practices while preventing potential side effects or
risks for other financial products and the real economy.
Expect ongoing updates as this story evolves.
The Office of the President of the Republic of Korea is
challenging the Financial Services Commission’s (FSC) stance against spot Bitcoin
exchange-traded funds (ETFs). The call for reconsideration comes merely a week
after the FSC’s cautionary statement against trading US-based spot Bitcoin
ETFs, prompted by the SEC’s approval in the United States.
According to a report by a Korean media publication,
The Office of the President of the Republic of Korea has urged the FSC to adopt
a more nuanced approach rather than a definitive “yes” or
“no,” indicating a potential shift in the regulatory landscape.
The FSC, a key financial regulator in South Korea,
recently issued a…
