TechFlow news: The South Korean presidential office is urging financial regulators to reconsider the possibility of approving local spot bitcoin exchange-traded funds (ETFs).
Sung Tae-yoon, Chief Secretary for Policy at the presidential office, said during a briefing on Thursday that the government is exploring ways to incorporate foreign developments into domestic regulations, signaling potential openness to launching spot bitcoin ETFs in the country.
Last week, the Financial Services Commission warned local firms that brokering foreign-listed spot bitcoin ETFs could be interpreted as a violation of capital markets regulations, prompting several major domestic securities companies to suspend trading of existing foreign spot bitcoin ETFs.
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