Bitcoin spot ETFs continue to gain global traction
According to South Korean media, FSS Chairman Lee Bok-hyun explained a visit to developed financial markets as part of his plans for 2024. As part of his plans, Lee wants to meet with SEC Chairman Gensler to consult on important issues such as virtual assets and the spot Bitcoin ETF.
South Korean regulators want to talk to the SEC about Bitcoin ETF
The announcement came as a surprise due to the South Korean regulator's strict stance on the Bitcoin ETF. So much so that after the approval of spot Bitcoin ETFs in the US, the FSS reiterated its negative view of these investment products and issued a warning that it would be contrary to capital markets laws to broker a spot Bitcoin ETF product in the country. Since South Korea does not accept Bitcoin as a financial asset, the basis for BTC is that the United States has given the green light to Bitcoin-based spot ETFs after many years, which has begun to change the perspective of these investment products. While Hong Kong continues to work towards spot crypto ETFs on the Asian continent, data is starting to come in from the Asian region, including China, that Bitcoin purchases have begun to accelerate. Finally, there appears to be messaging from South Korea that the approach towards ETFs Cryptocurrency trading may change. This can be seen as a development that whets the appetite of cryptocurrency investors for the global expansion of the ETF market in 2024. Since the expansion of the ETF market will mean more demand for cryptocurrencies, this is interpreted as positive developments such as a significant increase in asset prices and increased resilience to external shocks. .#PostNewYear GreetingstoWinFancyMerch# #NewYear2024# #newpost#BTC
