South Korea Considers Legal Framework for Cryptocurrency-Based ETFs

According to PANews, South Korean lawmaker Min Byeong-dug from the ruling Democratic Party has proposed an amendment to the Capital Markets Act. This bill aims to permit the creation of exchange-traded funds (ETFs) based on digital assets like Bitcoin. The proposed revision seeks to broaden the definition of underlying assets and trust properties in financial products to include cryptocurrencies. If passed, the legislation would establish a legal foundation for the use of cryptocurrencies in financial instruments such as ETFs, enabling trustees to hold and manage these assets.