PANews, November 20th news, according to South Korean Economic TV reports, South Korean financial regulators not only banned the issuance of cryptocurrency ETFs for spot and futures products but also rejected funds investing in cryptocurrency companies including exchanges. The head of an asset management company stated that their proposal to establish a fund investing in cryptocurrency companies was rejected by the Financial Supervisory Service of the country.
He mentioned that his company is preparing to launch an ETF focused on the U.S. cryptocurrency exchange Coinbase and similar companies, but still needs to wait for approval from local regulators. Meanwhile, an official from the FSS acknowledged the growing demand for Bitcoin investment but stated that unless the government's current policy changes, regulations will not be loosened.
