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Both major South Korean presidential candidates support legalizing spot crypto ETFs.
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The Financial Services Commission may reconsider its current ETF ban.
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Polls show the Democratic Party’s Lee Jae-myung is leading ahead of the June 3 election.
Bipartisan Support for Spot ETFs
Kim Moon-soo, the conservative People Power Party candidate, announced support for spot crypto ETFs in South Korea. This puts both leading candidates—Kim and Democratic Party’s Lee Jae-myung—on the same page regarding ETF legalization, signaling bipartisan support for integrating crypto into the financial system.
FSC May Reevaluate ETF Restrictions
Currently, South Korea’s Financial Services Commission prohibits spot crypto ETFs. However, the FSC has said it will work with the incoming administration to revisit the issue, particularly after U.S. ETFs saw $43 billion in inflows and growing global acceptance.
Regulatory Context and Election Impact
The upcoming election follows the impeachment of President Yoon Suk-yeol and is set for June 3. Market participants are hopeful that new leadership will bring regulatory clarity and open the doors for regulated crypto investment products in the country.
