TechFlow news: South Korea's financial regulator has allowed overseas bitcoin ETFs to continue trading. The Financial Services Commission of South Korea stated in a press release that it has no plans to regulate overseas bitcoin futures ETFs differently from the current situation.
Bitcoin futures ETFs track the bitcoin futures index listed on the Chicago Mercantile Exchange (CME), rather than the bitcoin spot price, and therefore in principle do not violate the requirements for underlying assets stipulated in the Capital Markets Act.
The Financial Services Commission noted that issuing and brokering bitcoin spot ETFs could violate the government’s existing stance and the Capital Markets Act. The legal system in the United States differs from that of South Korea, making it difficult to directly apply U.S. practices to the South Korean context.
