South Korea Restricts Overseas Spot Bitcoin ETF Trading Amid Regulatory Woes

South Korea Restricts Overseas Spot Bitcoin ETF Trading Amid Regulatory Woes

South Korea’s Financial Services Commission (FSC) issued a press release on January 12, highlighting potential violations in brokering overseas-listed Spot Bitcoin ETFs by domestic securities firms. The advisory comes as the FSC grapples with regulatory frameworks and challenges posed by virtual assets, leaving major securities companies like Mirae Asset Securities and Samsung Securities to preemptively suspend their brokerage services for Canadian and German Spot Bitcoin ETFs.
South Korea’s Cautionary Stance Against Spot ETF Trading
South Korean securities giants, including Mirae Asset Securities and Samsung Securities, took swift action on January 12, suspending their brokerage services for spot Bitcoin ETFs listed in Canada and Germany. According to the latest report by Dailian, this preemptive measure follows an advisory from the country’s financial watchdog, cautioning against domestic trading of overseas-listed Spot Bitcoin ETFs.
Meanwhile, Mirae Asset Securities, known for

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