According to Wu, the head of South Korea's financial regulator plans to meet with Gary Gensler, chairman of the U.S. Securities and Exchange Commission, in May to discuss NFTs and crypto ETFs. South Korea does not currently classify NFTs as "virtual assets" and plans to discuss with Gensler whether NFTs should be legally classified as virtual assets. In addition, the two sides will also discuss South Korea's approval of spot Bitcoin ETFs. Currently, South Korea restricts local institutions from launching cryptocurrency-related products and prohibits companies from brokering overseas spot Bitcoin ETFs.

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