Regardless of the current approval of spot Bitcoin
exchange-traded funds (ETFs) by the US Securities and Change Fee
(SEC), the South Korean Monetary Companies Fee (FSC) firmly said it
wouldn’t allow the buying and selling of cryptocurrencies on its native monetary market.
This resolution, detailed in a press launch yesterday
(Thursday), sends a transparent message that South Korea is cautious concerning the
fast-growing crypto market.
The FSC’s stance facilities across the potential
contradiction between home securities corporations brokering overseas-listed spot
Bitcoin ETFs and the South Korean authorities’s place on digital property.
The FSC emphasised that such brokerage might violate
the Capital Market Act, elevating considerations about aligning these actions with
the nation’s regulatory framework.
With no authorized foundation recognizing digital property as
primary property, the FSC deems it difficult to permit the itemizing and oblique
buying and selling of crypto ETFs via securities corporations. Regardless of the present stance, the FSC hinted at
attainable future developments. Further critiques can be carried out as South Korea approaches implementing a brand new regulation on digital property in July.
Count on ongoing updates as this story evolves.
Regardless of the current approval of spot Bitcoin
exchange-traded funds (ETFs) by the US Securities and Change Fee
(SEC), the South Korean Monetary Companies Fee (FSC) firmly said it
wouldn’t allow the buying and selling of cryptocurrencies on its native monetary market.
This resolution, detailed in a press launch yesterday
(Thursday), sends a transparent message that South Korea is cautious concerning the
fast-growing crypto market.
The FSC’s stance facilities across the potential
contradiction between home securities corporations brokering overseas-listed spot
Bitcoin ETFs and the South Korean authorities’s place on digital property.
The FSC emphasised that such brokerage might violate
the Capital Market Act, elevating considerations about aligning these actions with
the nation’s regulatory framework.
With no authorized foundation recognizing digital property as
primary property, the FSC deems it difficult to permit the itemizing and oblique
buying and selling of crypto ETFs via securities corporations. Regardless of the present stance, the FSC hinted at
attainable future developments. Further critiques can be carried out as South Korea approaches implementing a brand new regulation on digital property in July.
Count on ongoing updates as this story evolves.
