South Korea Launches Bitcoin Spot ETF This Year, What About the Regulations?
South Korea, through the People Power Party, has announced plans to launch a Bitcoin spot Exchange-Traded Fund (ETF) that will allow investors to participate directly in the cryptocurrency market.
This initiative is part of seven major changes in virtual asset regulations aimed at strengthening the crypto ecosystem in the country.
With this move, South Korea hopes to catch up with other countries such as the United States, Hong Kong, and the United Kingdom, which have already introduced similar products.
Regulatory Changes to Accelerate the Crypto Industry
The People Power Party has proposed a series of regulatory changes aimed at accelerating the growth of the crypto industry in South Korea. Starting in the second quarter of this year, companies will be allowed to transact with digital assets without restrictions. A total of 3,500 corporations and institutions, including 2,500 listed large companies and 1,000 professional investment firms, are expected to be involved in the crypto market.
