According to the "Korean Economy" report, Kim Byoung-hwan, the current first deputy minister of the Korean Ministry of Economy and Finance and the candidate for chairman of the Financial Services Commission (FSC), stated that he is unwilling to approve the Korean spot Bitcoin ETF and is also unwilling to issue real-name bank accounts for entities and institutions within Korea. ETF believes that these issues should be carefully considered based on financial market stability, financial enterprise soundness, investor protection, and global trends. Although he previously advocated the abolition of capital gains tax on financial investments, he is reserved about taxing cryptocurrencies and believes that this matter should be discussed jointly by the National Assembly and the Ministry of Economy and Finance.

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