The Office of the President of the Republic of Korea urged the Financial Services Commission to reconsider its anti-ETF stance following SEC approval in the United States.
Just a week after South Korea’s Financial Services Commission (FSC) warned against trading the U.S.-based spot Bitcoin (BTC) exchange-traded funds (ETFs), the Presidential Office is now urging the regulator to reconsider its stance.
On Jan. 18, the Office of the President of the Republic of Korea — also referred to as the Yongsan Presidential Office — asked the FSC to refrain from having a ‘do’ or ‘not’ directive for ETFs, according to a local report from Maekyung. In rough translation, Tae-yoon Sung, head of the policy office of the presidential office, said:
Looking beyond the risks associated with trading ETF assets, South Korea is assessing other low-risk aspects of the offering, said Sung.
