South Korean Financial Authority Director Plans Talks on Spot Bitcoin ETFs with US SEC Chair

Head of the Financial Supervisory Service, Lee Bok-hyun, is set to visit the United States later this year, intending to engage in discussions with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler.

The agenda of the meeting is expected to encompass various aspects of the crypto industry, with a specific focus on the Bitcoin spot ETF.

During the announcement of his business plan for 2024 at the Financial Supervisory Service in Seoul’s Yeouido district on the 5th, Director Lee revealed his intention to visit major advanced financial markets, including New York, USA, in the second quarter. The purpose of these visits is to deliberate on measures such as the Korea discount, Bitcoin spot ETF, and corporate value-up program, local media reported.

In a subsequent Q&A session with reporters, Director Lee acknowledged the planned meeting with SEC Chairman Gensler, emphasizing the areas of concentration. He remarked, “I met with SEC Chairman Gary Gensler (this year), and there are areas where we will focus on issues such as virtual asset concerns and Bitcoin spot ETF.” Director Lee highlighted the global significance of SEC policy decisions, stating, “Now, the impact of SEC policy on the world. This is important.”

Bitcoin ETFs Gain Momentum in Asia Post US Approval

After the first Bitcoin spot price exchange-traded funds received historic approval in the United States, Asian industry leaders, particularly in Hong Kong, are actively exploring similar crypto products.

As reported earlier, over a dozen fund providers are currently in discussions with Hong Kong’s Securities and Futures Commission (SFC) to formulate a strategy for launching a local Bitcoin spot ETF.