South Korea’s Financial Services Commission (FSC) is re-evaluating its ban on spot cryptocurrency ETFs and crypto accounts for institutional investors, a potential policy shift driven by increased political and public interest.
Establishing a New Cryptocurrency Committee
The FSC’s newly formed cryptocurrency committee will assess the risks and potential benefits of allowing spot crypto ETFs, signaling a softer regulatory stance than in previous years.
Growing Political Support for Crypto ETFs
Both ruling and opposition parties have supported spot Bitcoin ETFs, with recent election promises pushing for a regulatory review on crypto access for institutional investors.
Investigating Market Monopolies in Digital Assets
The FSC also plans to examine the dominance of Upbit in South Korea’s digital asset market, addressing concerns about competitive fairness in the country’s crypto landscape.
Source:
The Block
