The South Korean Financial Services Commission may review and update its regulations in regard to the Bitcoin spot ETFs trade approval in the United States.
The Financial Services Commission (FSC), a principal financial regulator in South Korea, has warned local firms against brokering spot Bitcoin (BTC) exchange-traded funds (ETFs) from the United States.
On Jan. 12, the FSC issued a brief press release emphasizing that domestic securities firms brokering overseas-listed spot Bitcoin ETFs “may violate” the existing government stance on virtual assets and the Capital Markets Act.
However, the statement notes that the regulatory regime for crypto in the country is still in its established stages. Thus, the Commission plans to review the regulations regarding the updates overseas, specifically in the U.S.
