TechFlow reported on November 20 that, according to South Korea's financial news network, the country's financial regulators have not only banned the issuance of cryptocurrency ETFs for both spot and futures products but also rejected funds investing in crypto companies including exchanges. The head of an asset management firm said their proposal to establish a fund targeting crypto companies was turned down by the Financial Services Commission (FSC).
He noted that his company is preparing to launch an ETF focused on U.S.-based crypto exchanges such as Coinbase and similar firms, but is still awaiting approval from local regulators. Meanwhile, an FSS official acknowledged the growing demand for bitcoin investments but stated that regulations would not be relaxed unless current government policies change.
