South Korea's Financial Services Commission (FSC) recently announced that it will re-evaluate the lifting of the ban on spot cryptocurrency ETFs and institutional accounts trading on cryptocurrency exchanges. The news shows a major shift in the regulator's attitude towards digital assets.

The FSC's newly established cryptocurrency committee will review the current ban in response to calls from lawmakers and the public. Previously, South Korean institutional investors have been banned from opening trading accounts on cryptocurrency exchanges since 2018. This policy adjustment may open up new channels for institutional investors to participate in the crypto market.

At the same time, FSC Chairman Kim Byung-hwan said he would investigate the monopoly structure of South Korean digital asset exchanges. Data shows that Upbit has a market share of more than 61%, raising concerns about its financial relationship with its partner bank K-bank.