South Korea president’s office urges FSC to reconsider its spot Bitcoin ETFs stance
Will South Korea allow spot Bitcoin ETFs? The Financia Services Commission had warned brokerage firms against offering recently listed US spot Bitcoin ETFs. President’s office urges FSC to reconsider stance, noting possibility if incorporating foreign-listed products. The South Korea n president ’s office has urged the Financial Services Commission (FSC) to reassess its stance on the trading of the recently approved spot Bitcoin ETF s. Earlier this month, the Securities and Exchange Commission (SEC) approved eleven spot Bitcoin ETFs – the nod coming a decade after the first application. But only a day after the ETFs hit the market, the FSC released a statement warning local firms against providing access to the foreign-listed products. An official of the FSC had also noted that South Korea wasn’t looking to follow the US in allowing spot ETFs . Government urges FSC to review stance On Thursday, details in a local media outlet reve...