After the SEC approved the Ethereum spot ETF, the South Korean regulatory agency is facing pressure from the market to approve cryptocurrency exchange-traded funds (ETFs). This decision is expected to force the Seoul financial regulatory agency to re-examine its stance on digital assets.The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) in Korea have been cautious about introducing cryptocurrency trading to traditional securities markets. According to the FSC, ETFs must strictly comply with the Capital Markets Act and can only be linked to traditional underlying assets. The Korean government updated the "Virtual Asset User Protection Law" in early February.Xangle, a major digital currency data provider in Seoul, publicly criticized the practice of traditional securities markets banning digital assets, calling it "outdated" and in need of revision. Jung Eui-jung, chairman of the Korean Shareholders Alliance, emphasized that Seoul should follow the United States in approving Bitcoin and Ethereum ETFs to reduce industry frustration. He warned that if Korea progresses slowly and the United States continues to move forward, investors may turn to the US market, and it is only a matter of time before the US fully opens its market to other cryptocurrencies.

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