{"id":69353,"date":"2024-01-20T03:12:45","date_gmt":"2024-01-20T07:12:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=69353"},"modified":"2024-01-20T03:14:01","modified_gmt":"2024-01-20T07:14:01","slug":"south-korea-may-reconsider-stance-on-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/south-korea-may-reconsider-stance-on-bitcoin-etfs\/","title":{"rendered":"South Korea May Reconsider Stance on Bitcoin ETFs"},"content":{"rendered":"\n

South Korea's Presidential Office has taken a proactive stance regarding the trading of Bitcoin exchange-traded funds <\/a>(ETFs).<\/p>\n\n\n\n

\"South
South Korea May Reconsider Stance on Bitcoin ETFs<\/figcaption><\/figure>\n\n\n\n

The South Korean financial authority was urged by the office of the president of South Korea <\/a>to reevaluate the prospect of allowing spot Bitcoin (BTC) exchange-traded funds (ETFs) to be traded in the nation.<\/p>\n\n\n\n

Formerly, South Korean businesses were forewarned by the regional Financial Services Commission that brokering transactions in overseas spot Bitcoin ETFs might be against capital market regulations. <\/p>\n\n\n\n

The announcements of multiple local companies selling overseas exchange-traded funds based on Bitcoin led to a stop. The South Korean Financial Services Commission\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (FSC) was requested by the Office of the President of the Republic of Korea to hold off on releasing any “do” or “don't” directions regarding ETFs on January 18.<\/p>\n\n\n\n

The chief of the presidential administration's political department, Tae Yoon Seong, stated:<\/p>\n\n\n\n

\n

“We are trying to make appropriate changes in our country's legal system or consider whether what happens abroad can be accepted in our country.”<\/p>\n<\/blockquote>\n\n\n\n

Simultaneously, Singapore, another Asian nation, had previously objected to the issuing of spot Bitcoin exchange-traded funds. Even though the investment product was permitted in the US, the Monetary Authority of Singapore<\/a> (MAS) declared that it would not allow the instrument for retail investors. <\/p>\n\n\n\n

However, Retail investors in Singapore have access to bitcoin exchange-traded funds listed abroad. Furthermore, new regulations about digital asset commingling services are anticipated to be introduced by the Financial Intelligence Unit (FIU). <\/p>\n\n\n\n

According to an FIU spokesman, talks started in Korea after US bans on cryptocurrency mixers were placed last year. A final ruling on this kind of enforcement is anticipated sometime soon, though.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea’s Presidential Office has taken a proactive stance regarding the trading of Bitcoin exchange-traded funds (ETFs). The South Korean financial authority was urged by the office of the president of South Korea to reevaluate the prospect of allowing spot Bitcoin (BTC) exchange-traded funds (ETFs) to be traded in the nation. Formerly, South Korean businesses […]<\/p>\n","protected":false},"author":43,"featured_media":69355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1742,932,1712],"class_list":["post-69353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-etfs","tag-mas","tag-south-korea"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/croc_1705728510454.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/69353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=69353"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/69353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/69355"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=69353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=69353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=69353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}