United

Bitcoin ETF

Bitcoin

<div class="watcher-guru">
 <p>Amid a landmark development for the market, <a rel="noopener noreferrer nofollow" title="South Korea" href="https://thebittimes.com/tag/south-korea.html">South Korea</a> has reaffirmed its <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ban amid the US spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval yesterday. Indeed, the US Securities and Exchange Commission (SEC) broke a long-standing trend and approved 11 applications for the investment product.</p>
 <p>However, the top financial regulator in South Korea has reiterated its stance on digital assets. Expressly, it has noted it will stand by its restriction of financial institutions from launching cryptocurrency ETFs, according to a report from local news outlet Kyunghyang.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="684" src="https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp" alt="South Korea has reaffirmed its crypto ban in the midst of the United States landmark Spot Bitcoin ETF approval" class="wp-image-110498" srcset="https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 1024w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 300w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 768w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 1536w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 380w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 550w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 800w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 1160w, https://cdn.thebittimes.com/images/2024/01/12/70666dd68641cd834a8b172a5b3a2061.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: RE100
  </figcaption>
 </figure>
 <p><strong>Also Read: Robinhood CEO Announces Plan to List Bitcoin ETF Soon</strong></p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-south-korea-stands-by-crypto-ban-amid-bitcoin-etf-hype">South Korea Stands By Crypto Ban Amid Bitcoin ETF Hype</h2>
 <p>The financial sector has been inundated with talk surrounding Bitcoin ETFs. For much of the last few months, the investment product has captured headlines for the impending approval that would completely change the market. After a decade of rejections, the SEC greenlit a host of applications. Therefore, it approved the first spot Bitcoin ETFs in the United States.</p>
 <p>However, that positive development will not likely deter other nations’ long-standing perspectives. South Korea has reaffirmed its crypto ban amid the US’ Bitcoin ETF approvals. The country currently restricts local finance institutions from owning or buying digital assets. Moreover, it does not allow these institutions to invest in businesses that offer cryptocurrencies.</p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp" alt class="wp-image-124243" srcset="https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 1024w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 300w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 768w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 1536w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 380w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 550w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 800w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 1160w, https://cdn.thebittimes.com/images/2024/01/12/3c4f19960fb49597ef19dbaa8aa6527d.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
 <p><strong>Also Read: Bloomberg Predicts $4B <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> Inflows For First Trading Day</strong></p>
 <p>An official of <a rel="noopener noreferrer nofollow" title="South Korea" href="https://thebittimes.com/tag/south-korea.html">South Korea</a>’s Financial Services Commission said that the US event would not lead to a reconsideration of the ban. Additionally, the report noted that the financial markets’ stability and investor protection inform the continued upholding of the ban.</p>
 <p>The decision by the United States is certainly one that could have a ripple effect. The US had consistently stood against the investment product until the courts forced its regulatory agency to reconsider. Subsequently, Hong Kong lawmakers have even called for reconsideration of ETF legislation amid US approvals.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>Bitcoin ETF</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>South Korea</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/south-korea-reaffirms-crypto-ban-amid-us-bitcoin-etf-approval-tbt76329.html">https://thebittimes.com/south-korea-reaffirms-crypto-ban-amid-us-bitcoin-etf-approval-tbt76329.html</a></p>

South Korea Reaffirms Crypto Ban Amid US Bitcoin ETF Approval

Table of Contents

TheBitTimes

Other articles published on Jan 11, 2024

Pacminer Scandal: 800,000 Ghanaians Defrauded in Cryptocurrency Scheme

PlanB’s Triple Bitcoin Forecast: A Pre-Halving Surge, Post-ETF Rally, And Monumental Peak Ahead

Ryder to operate FAST Pool, become signer in Stacks’ Nakamoto upgrade

Shiba Inu (SHIB), Retik Finance (RETIK), and Bonk (BONK) Are the Only 3 Tokens To Have in Your Cr...

Solana Meme Coin Dogwifhat Jumps 100% as Binance Speculation Heats Up

XRP Whale Movements Stir Market Speculation

Join our free newsletter for daily crypto updates!