-- #SouthKorea may lift a ban on cryptocurrency ETFs.
-- The country will also set up a committee on virtual #assets .

South Korea will consider lifting the ban on cryptocurrency #exchange -traded funds (ETFs). This is reported by local media with reference to the annual audit of the country's Financial Services Commission (FCS).

The local regulator also said it will form a committee on virtual assets to provide policy recommendations on the #cryptocurrencymarket . The report said that nine experts from different regulatory bodies will participate.

The country also plans to allow cryptocurrency accounts for corporations.

In addition, the Financial Services Commission announced that the verification of crypto platform operators' continuing operations reports is proceeding smoothly.

Earlier, the Chairman of the Financial Services Commission of South Korea Kim Ben Hwang said that the regulator intends to analyze the situation with the monopoly position in the local crypto market of the exchange Upbit. The politician believes that the monopoly system Upbit was formed after the conclusion of a business partnership with the financial institution K Bank.

Recall, in early 2024, FCS official said that South Korea's policy of not recognizing virtual assets as financial assets and the ban on investment in digital currencies remains unchanged, and the launch of cryptocurrency ETFs is impossible.

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