On October 10, according to The Block, South Korea's top financial regulator said it would re-evaluate the lifting of the existing ban on local spot cryptocurrency ETFs and institutional accounts on cryptocurrency exchanges. The Financial Services Commission (FSC) said in its annual audit report on Thursday that its newly established cryptocurrency committee will review the current ban. This indicates a shift in the regulator's strict opposition to digital assets entering the traditional financial market. Following the approval of the spot Bitcoin ETF in the United States in January this year, the country's regulator reiterated its decision to maintain the ban on the listing of local cryptocurrency ETFs, arguing that this could pose risks to the stability of financial markets. The country's lawmakers have been calling for change. Both the winning Democratic Party and the opposition party promised to approve local spot Bitcoin ETFs in the general election earlier this year. According to reports, the winning left-wing party announced in May that it would ask the FSC to review the ban. Since 2018, under the strict guidance of the Financial Supervisory Commission of South Korea, Korean institutional investors have been effectively banned from opening cryptocurrency trading accounts on exchanges.