Bitcoin ETF

Bitcoin

Spot

Coin

<ul class="news-points"> 
 <li>South Korea warns against the domestic brokerage of the US-listed bitcoin ETFs.</li> 
 <li>The country does not intend to lift the ban on exchange-traded funds or cryptocurrencies.</li> 
 <li>The move came following the US SEC’s historic decision to approve the Spot Bitcoin ETF launch.</li> 
</ul> 
<a href="https://coinedition.com/tag/sec/">South Korea</a> reiterated its stance against the crypto exchange-traded funds in response to the US Securities and Exchange Commission’s Bitcoin ETF approval. In addition to South Korea’s decision to pursue restrictions on ETFs, the country recently <a href="https://www.bloomberg.com/news/articles/2024-01-12/south-korea-warning-on-investing-in-us-bitcoin-etfs-roils-stocks?utm_medium=social&amp;utm_source=twitter&amp;utm_content=crypto&amp;utm_campaign=socialflow-organic" target="_blank" rel="nofollow">warned</a> that brokering US spot ETFs will be illegal in local markets. 
In an official <a href="https://www.fsc.go.kr/no010101/81456" target="_blank" rel="nofollow">statement</a> on January 12, the Financial Services Commission (FSC) of South Korea asserted that the domestic brokerage of the US-listed Bitcoin ETFs will violate the country’s existing rules of virtual assets. The FSC stated, “For domestic securities firms, any brokering of overseas-listed Bitcoin spot Exchange Traded Funds may violate the existing government stance on virtual assets and the Capital Markets Act.” 
Subsequent to the SEC’s landmark <a href="https://coinedition.com/sec-commissioners-divide-over-spot-bitcoin-etf-decision-report/">decision</a> on Bitcoin ETFs, South Korea <a href="https://coinedition.com/south-korean-regulators-maintain-ban-on-crypto-etfs-unmoved-by-sec-nod/">proclaimed</a> that the country does not intend to lift the ban on ETFs. Remaining unmov…
The post <a href="https://coinedition.com/south-korea-restricts-bitcoin-etf-brokerage-in-local-markets-report/">South Korea Restricts Bitcoin ETF Brokerage in Local Markets: Report</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

South Korea Restricts Bitcoin ETF Brokerage in Local Markets: Report

Coin Edition

Other articles published on Jan 13, 2024

Key Developments to Shape the Crypto Market After Spot Bitcoin ETF Approval

BlackRock’s Larry Fink Envisions Potential for Ethereum Spot ETF

Prospects of a Spot Ethereum ETF Approval by the SEC Remain Dim

Spot Bitcoin ETF: Here’s How Many Coins BlackRock Currently Holds

Buying Retik Finance (RETIK) now at $0.07 is as good as Buying Solana (SOL) for $2

Chainlink Crypto: Can LINK Crypto Price Fall In A Pit Soon?

Join our free newsletter for daily crypto updates!