South Korea Favours Local Spot Bitcoin ETF
South Korea’s Office of the President has urged the country’s financial regulator to reconsider approving a local spot Bitcoin ETF.
This comes amid discussions about cryptocurrencies’ regulation and their impact on financial markets. Last week, the Financial Services Commission (FSC) issued a warning to local firms, cautioning them against brokering foreign-listed Bitcoin spot ETFs due to potential violations of capital market regulations.
As a result, several major South Korean securities companies have suspended trading of existing foreign-spot Bitcoin ETFs. The move raises speculation about South Korea’s willingness to embrace spot cryptocurrency ETFs as part of its financial landscape.
(With inputs from Shikha Singh)
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