South Korea Asks Local Regulator to Reconsider its Position on Bitcoin ETFs
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19 January

The Office of the President of the Republic of South Korea yesterday asked the country's Financial Services Commission (FSC) to reconsider its position on spot Bitcoin ETFs.

Policy Chief Cabinet Chief Sung Tae-yoon has reportedly said the government is mulling the possibility and ways to incorporate foreign rules into local laws.

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The news comes after the regulator issued a warning that intermediaries providing access to foreign-listed Bitcoin ETFs may be breaking the law.

Following the announcement, several major local securities firms suspended trading in existing foreign spot Bitcoin ETFs.

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