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 United States-based spot Bitcoin (BTC) exchange-traded funds (ETFs), the Office of the President 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 a rough translation, Tae-yoon Sung, head of the presidential policy office, said:
Looking beyond the risks associated with trading ETF assets, South Korea is assessing other low-risk aspects of the offering, said Sung.
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Source: https://cointelegraph.com/news/south-korea-president-office-urges-fsc-reconisder-spot-bitcoin-etfs