• South Korea warns home intermediaries of US-listed Bitcoin ETFs.
• The nation has no intention of lifting its ban on exchange-traded funds and cryptocurrencies.
• The transfer follows the US SEC's historic choice to approve the launch of a spot Bitcoin ETF.

South Korea has reiterated its stance on digital forex trade traded funds (ETFs) following the US Securities and Alternate Fee's approval of Bitcoin ETFs. Along with South Korea's choice to pursue restrictions on ETFs, the nation lately warned that intermediation of US spot ETFs within the native market can be unlawful.

In an official assertion on January 12, the Monetary Providers Fee of Korea (FSC) claimed that home intermediation of US-listed Bitcoin ETFs violates the nation's current digital asset guidelines. “For home securities companies, intermediation of overseas-listed Bitcoin spot exchange-traded funds might violate the federal government's current place on digital belongings and capital market legal guidelines,” the FSC mentioned.

Following the SEC's landmark choice on Bitcoin ETFs, South Korea declared that it has no intention of lifting its ban on ETFs. South Korea was unfazed by the US SEC's choice and reiterated its coverage of proscribing crypto belongings. South Korean regulators added that the nation will proceed to scrutinize the regulatory scenario surrounding spot Bitcoin ETF investments.

Notably, South Korea doesn’t contemplate cryptocurrencies to be monetary belongings. Involved concerning the potential dangers and threats related to digital belongings, the nation banned investing in cryptocurrencies in 2017.

South Korea's agency stance on crypto regulation is in keeping with the nation's cautious method to crypto regulation. The nation is at the moment engaged on a two-part cryptocurrency regulation. Whereas the primary half was printed final yr, the second half will concentrate on establishing complete guidelines for the issuance, itemizing, and delisting of cryptoassets.