Lee Bok-hyun, head of South Korea’s Financial Supervisory Service (FSS), plans to meet with US Securities and Exchange Commission (SEC) Chairman Gary GENSLER, local media Hankyung reported on February 5. Financial regulators around the world are currently reviewing the possibility of spot Bitcoin ETFs after the US Securities and Exchange Commission approved several spot Bitcoin ETFs in January.
FSS will discuss various cryptocurrency issues, including a spot Bitcoin ETF, with the SEC and Chairman Gary Gensler. Lee Bok-hyun announced that he plans to visit major developed financial markets. He plans to visit the US in the second quarter to discuss the corporate “value-up” program and Bitcoin ETF. He said the SEC’s policy of approving spot Bitcoin ETFs will have a big impact on the world. The possibility of approval of a spot Bitcoin ETF in South Korea was discussed for several weeks after approval of spot Bitcoin ETF in the United States.
South Korea’s Financial Services Commission (FSC) has warned that intermediary activities of spot Bitcoin exchange-traded funds (ETFs) may be illegal in local markets. The commission said this could breach the government’s existing position on virtual assets and the Capital Markets Act. However, the Office of the President of South Korea has asked the financial regulator to reconsider the possibility of identifying Bitcoin ETFs in the country, adopting a flexible approach.
Image: Bitcoin Sistemi
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