📣 South Korea Stands Against Crypto ETFs
posted 11 Jan 2024
The South Korean government has expressed opposition to the approval of Bitcoin or any other cryptocurrency-based ETFs, in light of the recent shifts in the U.S. financial policy. This stance was articulated by a representative of the South Korean Financial Services Commission (FSC).
"The circumstances haven't emerged that would necessitate a change in the government's policy, and thus, it hasn't been reassessed," the official emphasized.
It's important to note that South Korea had already prohibited financial institutions from buying, storing, or using virtual assets as collateral in 2017. The financial regulator regards the approval of ETFs in certain countries as specific local market developments.
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