Bitcoin ETF

Bitcoin

<ul class="news-points"> 
 <li>South Korean authorities rule out the possibility of a cryptocurrency ETF in the country.&nbsp;&nbsp;</li> 
 <li>The government remains restrictive on cryptocurrencies, and financial institutions are banned from investing in them.&nbsp;</li> 
 <li>An official stated that the ban is to stabilize the market and protect investors.</li> 
</ul> 
South Korean regulators have doused hopes of a cryptocurrency exchange-traded fund (ETF) launch in the country, according to <a href="https://www.khan.co.kr/economy/finance/article/202401111541001" target="_blank" rel="nofollow">reports</a> from a local news outlet.&nbsp; 
The country’s Financial Service Commission reiterated the government’s restrictive policy on cryptocurrency assets, which are not recognized as financial assets in the region. Furthermore, financial institutions are prohibited from investing in cryptocurrencies, a rule that has remained since 2017.&nbsp; 
The continued restrictive stance on crypto comes amidst recent developments in other countries. Yesterday, the U.S. Securities and Exchange Commission (SEC) <a href="https://coinedition.com/bitcoin-etfs-what-sets-them-apart-and-why-investors-are-eager-to-see-it/">approved</a> 11 spot Bitcoin ETF applications, ending years of waiting.&nbsp; 
An official of the South Korean Financial Services Commission was quoted as having said:&nbsp; 
<blockquote class="wp-block-quote"> 
 The (South Korean) government has consistently maintained the principle of prohibiting financia…
</blockquote>
The post <a href="https://coinedition.com/south-korean-regulators-maintain-ban-on-crypto-etfs-unmoved-by-sec-nod/">South Korean Regulators Maintain Ban on Crypto ETFs; Unmoved by SEC Nod</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

South Korean Regulators Maintain Ban on Crypto ETFs; Unmoved by SEC Nod

Coin Edition

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