📢【South Korea's Financial Services Commission plans to set up a virtual asset committee】

The South Korean Financial Services Commission recently announced that it will set up a virtual asset committee to discuss the approval of spot ETFs and the opening of corporate virtual accounts. Previously, due to the lack of underlying assets and money laundering risks, South Korea banned virtual asset ETF transactions such as Bitcoin and the opening of corporate virtual accounts.

The committee is led by the vice chairman of the Financial Services Commission, and its members include officials from the Ministry of Finance, Economy, Law and Technology and private individuals. The Financial Services Commission will also monitor abnormal market transactions, protect investor rights, and consider further institutional improvements.

CryptoQuant CEO Ki Young Ju said that if the relevant plan is passed, it will be good news. As arbitrage funds and market makers enter the Korean market, this will reduce the impact of the kimchi premium. The Bitcoin market may usher in new opportunities! 🚀