SEC’s spotlight Bitcoin Approving ETFs BTC and while it is seen as a turning point for cryptocurrencies, some countries ETF continues its ban.
One of these countries South Korea It restricts local institutions from launching cryptocurrency-related products and prohibits companies from brokering spot bitcoin ETFs based overseas.
While South Korea has adopted a restrictive stance on spot ETFs, both the ruling and opposition political party presidential candidates have recently decided to take a restrictive stance on spot ETFs. spot Bitcoin ETF While promising approval, South Korean local news agency Edaily reported He will meet with SEC Chairman Gary Gensler, chairman of the South Korean Financial Services Commission.
Although the exact date of this meeting is not clear, May It was stated that it will be carried out in the month.
Accordingly, the approval of NFTs and spot Bitcoin ETFs will be discussed during the meeting between the SEC Chairman and chairman Lee Bok-hyun.
The news reported that Lee Bok-hyun, head of the South Korean Financial Services Commission, plans to discuss with Gensler whether NFTs should be legally classified as virtual assets due to the increase in speculative behavior surrounding NFTs, other than the issue of BTC and spot ETF approvals.
As it is known, South Korea does not currently classify NFTs as “virtual assets”.
*This is not investment advice.
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