Share this article
South Korean Financial Regulator Says U.S. Bitcoin ETFs May Violate Local Law
Further review and consideration regarding crypto ETFs is planned, the regulator says.
Updated Mar 8, 2024, 7:54 p.m. Published Jan 12, 2024, 7:03 a.m.
South Korea’s Financial Services Commission (FSC), the nation’s financial regulator, said in a statement that recently-listed U.S. bitcoin ETFs may violate Korean law.
The regulator says that domestic brokerage of a U.S.-listed bitcoin spot ETF by Korean securities firms may potentially conflict with the country’s Virtual Asset User Protection Act and the Capital Markets Act without elaborating.
STORY CONTINUES BELOW
In 2017, The Bank of Korea’s governor, Lee Ju-yeol, stated that cryptocurrencies are commodities, not legal tender, and emphasized the need for regulation in this area.
The FSC said in its notice that further review is coming. SEC chair Gary Gensler is scheduled to meet his Korean counterpart sometime this month in Washington, DC.
Recently, authorities in South Korea said they were planning on creating regulations that would make officials’ crypto holdings public.
In the U.S., Vanguard has decided not to offer spot bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (GBTC), on its platform, citing what it calls a misalignment with the company’s investment portfolio strategy.
Mehr für Sie
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
Was Sie wissen sollten:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
Mehr für Sie
Russia’s central bank unveils new crypto rules to be adopted in 2026
Bank of Russia outlined a new framework intended to let retail and qualified investors buy crypto under defined tests and caps by 2027.
Was Sie wissen sollten:
- Russia's central bank has proposed a framework to legalize and regulate cryptocurrency trading for individuals and institutions.
- The proposal allows ordinary citizens to buy and sell cryptocurrencies through regulated platforms, with limits for nonqualified investors.
- The framework supports broader use of Russian-issued digital financial assets and permits crypto purchases abroad with mandatory tax reporting.
Top Stories
