South Korea persists in its stance against allowing financial institutions to invest in digital currencies, effectively blocking the launch of any crypto exchange-traded fund (ETF) within its borders. A representative from the Financial Services Commission (FSC) clarified to local journalists that this policy will remain in effect. Concurrently, bitcoin’s value in South Korea is experiencing a notable premium of more than $1,500 above the global rate.
Amidst Country’s Bitcoin Premium Surge, South Korea Maintains Crypto ETF Ban
Following the U.S. Securities and Exchange Commission’s (SEC) authorization of 11 spot bitcoin ETFs, an FSC official in South Korea reiterated the country’s firm position on barring financial institutions from crypto investments. Emphasizing stability and investor protection, the South Korean official underscored that “the government has consistently maintained the principle of prohibiting financial institutions from investing in virtual assets for the
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