SEC long awaited approval spot Bitcoin ETFHe approved the ‘s last night. While this approval was welcomed by important names in the cryptocurrency industry, it is thought that this decision of the SEC will set an example for other countries.
However, the situation did not happen as expected. After US approval South KoreaWhile ‘s are also expected to soften towards institutions, officials said they would stick to ETF bans.
Speaking to the country’s local news outlet Kyunghyang An official from South Korea’s Financial Services Commission (FSC) said: He said they would abide by the rule restricting financial institutions from launching funds traded on cryptocurrency exchanges.
“We will continue to stick to the spot ETF ban.
Because the SEC’s approval of spot Bitcoin ETFs in the USA is not an event that will lead us to lift or rethink the ETF ban.
“We will continue this ban to ensure the stability of financial markets and the protection of investors.”
As it is known, South Korea cryptocurrencies It does not recognize it as a financial asset and has banned financial institutions from investing in crypto since 2017.
*This is not investment advice.
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