Odaily Planet Daily News: The Financial Services Commission of South Korea plans to set up a virtual asset committee to discuss the approval of spot ETFs and allow companies to open virtual accounts. The Financial Services Commission previously banned virtual asset ETF transactions such as Bitcoin due to the lack of underlying assets, and prohibited companies from opening virtual asset accounts due to money laundering risks. The committee will be led by the vice chairman of the Financial Services Commission, and its members will include officials from the Ministry of Finance, Economy, Law and Science and Technology and private individuals. At the same time, the Financial Services Commission is monitoring abnormal market transactions, protecting the rights and interests of investors, and considering further institutional improvements. CryptoQuant CEO Ki Young Ju said that if the relevant plan is passed, it will be a positive, as arbitrage funds and market makers enter the Korean market, which will mitigate the impact of the kimchi premium.