Democratic Party of Korea Asks Regulator to Allow Bitcoin ETFs Trading
According to a report from a local newspaper, the Democratic Party of Korea plans to urge the Financial Services Commission (FSC) to reconsider its stance on the legal status of spot Bitcoin exchange-traded funds (ETFs).
This issue was a key campaign promise of the party and they plan to make the request once the National Assembly opens in June.
The FSC had stated on January 12 that allowing domestic securities firms to list foreign spot BTC ETFs could violate the Capital Markets Act, which was not well received by the previous administration.
The current policy committee official, who remained anonymous, stated that the party may consider revising the Act if the FSC’s response is not satisfactory.
This decision comes after the US Securities and Exchange Commission approved spot BTC ETF trading on January 10, causing the FSC’s position to be seen as out of line with global norms.
