Regardless of the latest approval of spot Bitcoin
exchange-traded funds (ETFs) by the US Securities and Alternate Fee
(SEC), the South Korean Monetary Providers 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 in regards to 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 could violate
the Capital Market Act, elevating issues 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
potential future developments. Further critiques will likely be performed 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 latest approval of spot Bitcoin
exchange-traded funds (ETFs) by the US Securities and Alternate Fee
(SEC), the South Korean Monetary Providers 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 in regards to 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 could violate
the Capital Market Act, elevating issues 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
potential future developments. Further critiques will likely be performed as South Korea approaches implementing a brand new regulation on digital property in July.
Count on ongoing updates as this story evolves.
