South Korea moves closer to spot Bitcoin ETFs as FSC explores proposal

South Korea’s apical fiscal regulator is moving connected a elaborate roadmap to enactment the motorboat of integer plus spot exchange-traded funds.

According to a June 19 report by Herald Economy, the Financial Services Commission revealed the determination during a argumentation update to the State Affairs Planning Committee.

The FSC plans to rotation retired its connection successful the 2nd fractional of the year. It volition measure the implications of introducing crypto-based spot ETFs, including imaginable risks to fiscal stability, capitalist exposure, and the broader economy.

The bureau besides intends to physique the indispensable infrastructure for listing and managing specified ETFs portion ensuring capitalist safeguards.

This argumentation propulsion aligns with run pledges made by President Lee Jae-myung, who antecedently advocated for allowing the issuance and trading of Bitcoin-based ETFs and akin concern products tied to integer assets.

Stablecoin oversight and interest operation nether review

Beyond the ETF rollout, the FSC is advancing the 2nd signifier of its integer plus legislation.

This adjacent measurement volition absorption connected regulations for plus listings, disclosures, concern practices, and crackdowns connected unfair marketplace activity.

A cardinal portion of the effort volition beryllium aligning stablecoin rules with planetary standards portion protecting users and enhancing marketplace transparency.

Notably, South Korean authorities are peculiarly acrophobic astir the increasing power of US dollar-denominated stablecoins successful the home market. Lee Chang-yong, the politician of the Bank of Korea, precocious cautioned that won-pegged stablecoins could summation request for the US dollar, raising macroeconomic risks.

Meanwhile, the FSC reportedly plans to motorboat a market-wide reappraisal of transaction fees charged by section crypto exchanges.

The reappraisal volition initially people South Korea’s largest exchanges, including Upbit, Bithumb, and Coinone.

Key areas of involvement see however these platforms’ fees are structured, whether they disclose this accusation transparently, and the grade of voluntary interest reductions.

South Korea’s latest regulatory steps bespeak its intent to equilibrium innovation with idiosyncratic extortion arsenic it reshapes its crypto marketplace policy

The station South Korea moves person to spot Bitcoin ETFs arsenic FSC explores proposal appeared archetypal connected CryptoSlate.