đđđ South Korean president's office urges financial regulator to reconsider spot
#BitcoinETFđ°đ°đ° possibility
South Korea's Office of the President has called on the country's financial regulator to reconsider its stance on approving a local spot Bitcoin exchange-traded fund (ETF), according to Sung Tae-yoon, the chief of staff for policy at the presidential office. The government is reportedly exploring ways to integrate foreign affairs into local regulations, suggesting a potential shift toward accepting spot crypto ETFs. This statement follows a warning from the Financial Services Commission, cautioning local firms against brokering foreign-listed Bitcoin spot ETFs due to potential violations of capital market regulations. In response, major local securities companies suspended trading of existing foreign spot Bitcoin ETFs.
In contrast, Singapore and Thailand have expressed disinterest in pursuing local spot Bitcoin ETFs. The Monetary Authority of Singapore clarified that such
#ETFs are not approved for local retail investors. Thailand's Securities and Exchange Commission also stated that it has no plans to authorize local firms to launch spot Bitcoin ETFs. While South Korea appears divided on the matter, Hong Kong is emerging as a potential hub for introducing a local spot crypto ETF. Hong Kong's financial regulators published two circulars in December outlining the requirements for such ETFs. Livio Weng, COO of Hong Kong-based crypto exchange HashKey, revealed that 10 fund managers, including some backed by Chinese capital, are considering launching spot crypto ETFs in the city.
Source - theblock.co
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