South Korea Ends Cryptocurrency ETF Ban
The Financial Services Commission (FSC) of South Korea has presented a roadmap to the Presidential Policy Planning Committee that will allow for the local trading of cryptocurrency ETFs in the second half of 2025. The country also plans to lift the ban on won-based stablecoins during the same period. The local cryptocurrency market, valued at 104 trillion won, is preparing for full liberalization.
As one of the largest cryptocurrency markets in Asia, South Korea is approaching a historic turning point in cryptocurrency regulations. The comprehensive roadmap prepared by the Financial Services Commission indicates fundamental changes in the country's cryptocurrency policy. As President Lee Jae Myung's campaign promises turn into concrete steps, the market, valued at 75.7 billion dollars, is preparing for a new era.
South Korea Launches Financial Liberalization Program
The FSC, South Korea's highest financial authority, has caused a stir in the cryptocurrency world with its announced roadmap. The Commission announced that it will prepare implementation measures for the local approval of spot cryptocurrency ETFs in the second half of the year.
This development supports President Lee Jae Myung's promise to lift the local cryptocurrency ETF ban. The Commission had previously prohibited trading and exporting these investment instruments, citing risks to financial stability and the view that cryptocurrency is an unsuitable underlying asset.
The roadmap also includes plans to fully prepare rules to lift the ban on won-based stablecoins in the second half of 2025. This is another significant project on President Lee's cryptocurrency agenda. Last month, during a discussion, Lee stated that the country needs to establish a won-based stablecoin market to prevent local capital outflows.