The South Korean financial regulatory authority refuses to approve the ETF investing in virtual assets
On November 20, the South Korean financial regulatory authority banned the issuance of cryptocurrency ETFs for spot and futures products, while also rejecting funds investing in crypto companies including exchanges.
The head of an asset management company stated that they have been preparing to launch a fund investing in virtual asset companies since the end of last year, but so far have not received approval from local regulators.
Meanwhile, an official from FSS acknowledged the growing demand for Bitcoin investment, but said that unless there is a change in current government policy, regulations will not be relaxed.
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