Bitcoin

<ul><li>Despite U.S. SEC’s ETF approval, South Korea&#39;s FSC stands firm against cryptocurrency ETFs, prioritizing market stability.</li><li>South Korean authorities remain cautious about including virtual assets in ETFs to protect domestic stock markets.</li><li>The nation’s cautious crypto regulations reflect global divergence in handling digital asset integration in finance.</li></ul>South Korea&#39;s FSC has maintained its position against virtual currency ETFs despite the U.S. SEC’s <a href="https://www.cnbc.com/2024/01/10/sec-approves-rule-changes-that-pave-the-way-for-bitcoin-etfs.html" rel="noopener noreferrer nofollow">recent</a> approval of Spot Bitcoin ETFs. South Korea’s decision maintains a long-standing restriction that prevents financial institutions from launching crypto ETFs.South Korea&#39;s Financial Services Commission remains unmoved by global shifts. In an interview, an <a href="https://www.khan.co.kr/economy/finance/article/202401111541001" rel="noopener noreferrer nofollow">FSC official stated</a> that U.S. developments do not warrant reconsidering the ban. The reasons cited are financial market stability and investor protection. Moreover, the <a href="https://elaw.klri.re.kr/kor_service/lawView.do?hseq&#61;62466&amp;lang&#61;ENG" rel="noopener noreferrer nofollow">Capital Markets Act</a> in South Korea restricts ETF underlying assets. These include financial investment, currencies, and general products, excluding crypto.Furthermore, South Korean financial authorities are hesitant to amend laws. They are cautious about including virtual assets in <a href="https://cryptotale.org/?s&#61;ETFs" rel="noopener noreferrer nofollow">ETFs</a>. This cautiousness stems from the belief that such investments could undermine domestic stock market stability.South Korea is currently developing a two-part <a href="https://cryptotale.org/?s&#61;crypto&#43;regulation" rel="noopener noreferrer nofollow">crypto regulation</a>. The first part passed last year, with implementation set for July 2024. The second part aims to clarify rules on crypto issuance, listing, and delisting. Consequently, despite international trends, South Korea is treading carefully in the crypto space.Since 2017, financial entities in S. Korea have been <a href="https://www.cnbc.com/2017/09/28/south-korea-bans-all-new-cryptocurrency-sales.html" rel="noopener noreferrer nofollow">banned</a> from investing in crypto. This policy reinforces the country&#39;s cautious approach towards digital assets.Read full article <a href="https://cryptotale.org/south-korea-restricts-crypto-etfs-despite-secs-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">at CryptoTale.</a>

South Korea Restricts Crypto ETFs Despite SEC’s Bitcoin ETF Approval

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