According to Foresight News, South Korea's Financial Services Commission (FSC) has reiterated its commitment to maintaining restrictions on the issuance of cryptocurrency-based exchange-traded funds (ETFs) by financial institutions. The FSC cites market stability and investor protection as the reasons for upholding the current limitations. Under South Korea's Capital Market Act, the scope of underlying assets for investment contract securities, such as ETFs, is limited to financial investment instruments, currency, and general commodities, but does not include cryptocurrencies.