- Lee Fu-hyeon introduced that he’ll go to the US and meet with SEC Chairman Gary Gensler.
- In keeping with Lee, the go to will enable him to debate the crypto asset business, together with the Bitcoin Spot ETF.
- The go to is a part of Lee's plans to go to developed monetary markets corresponding to New York within the second quarter.
South Korea's Monetary Supervisory Authority Commissioner Lee Bok-hyun introduced that he’ll go to the US this yr and meet with US Securities and Trade Fee (SEC) Chairman Gary Gensler. In keeping with native experiences, the go to will enable Lee to debate the crypto asset business, together with the Bitcoin Spot ETF, with SEC Chairman Gary Gensler.
Mr. Lee introduced his 2024 marketing strategy on February fifth on the Monetary Supervisory Service in Yeouido, Seoul. Plans embody visits to developed monetary markets corresponding to New York within the second quarter. He stated the go to would enable him to debate South Korea's low cost coverage, which refers back to the tendency for South Korean securities to be undervalued, in addition to different points such because the Bitcoin Spot ETF and the Company Worth Enhancement Program. Ta.
Lee stated the next in response to questions from reporters:
I'm scheduled to fulfill with SEC Chairman Gary Gensler (this yr), and there are areas to give attention to such points as crypto property and Bitcoin Spot ETF coverage.
Mr. Lee additional identified that the SEC's insurance policies have had a major affect globally and are an vital improvement.
Underneath Gensler's management, the SEC permitted 11 spot Bitcoin ETF proposals after years of regulatory debate. Contemplating the main position of the US within the international monetary ecosystem, this approval has introduced a brand new environment to the crypto business.
Mr. Lee didn’t present many particulars about his deliberate discussions with Mr. Gensler. Nonetheless, given the roles of each figures of their nation and the business, South Korean crypto practitioners can count on the convention to give attention to crypto coverage and regulation.
The result of the dialogue might have a significant affect on the event of South Korea's cryptocurrency market, which is predicted to succeed in $1.8 billion in income this yr, in keeping with Statista information. The analysis platform additionally predicts an annual income development price of 5.12%, ensuing within the complete South Korean cryptocurrency market anticipated to succeed in $2.2 billion by 2028.
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