Breaking: South Korea’s Regulator To Confer Spot Bitcoin ETF With US SEC’s Gary Gensler
Highlights
- South Korea's Financial Supervisory Service (FSS) head discuss spot Bitcoin ETF with SEC Chair Gary Gensler
- FSS Governor Lee Bok-hyun plans to visit major advanced financial markets this year
- South Korea regulators are reluctant to approve spot Bitcoin ETF as local brokering may be illegal
South Korea’s financial regulator plans to visit the U.S. to meet Securities and Exchange Commission (SEC) Chairman Gary Gensler to discuss key matters including virtual assets and spot Bitcoin ETF. Financial regulators worldwide are now considering spot Bitcoin ETF possibilities after the U.S. SEC approved multiple spot Bitcoin ETFs in January.
South Korea’s FSS Deliberate Over Spot Bitcoin ETF
Lee Bok-hyun, the head of South Korea’s Financial Supervisory Service (FSS) plans to meet U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, reported local media Hankyung on February 5. The Financial Supervisory Service is South Korea’s integrated financial regulator under the broad oversight of the Financial Services Commission (FSC).
The FSS will discuss various crypto matters, including spot Bitcoin ETF, with the SEC and Chair Gary Gensler. Lee Bok-hyun announced his business plan for the year at FSS, visiting major advanced financial markets. He plans to visit the U.S. in the second quarter to discuss measures such as the corporate “value-up” program and spot Bitcoin ETF.
He said that the SEC’s policy about spot Bitcoin ETFs approval will have a big impact on the world. “This is important,” he added. The possibility of spot Bitcoin ETF approval in South Korea has been in discussions for weeks after the approval of spot Bitcoin ETF in the US.
South Korea Reluctant On Spot Bitcoin ETFs
South Korea’s Financial Services Commission (FSC) warned that brokering U.S. spot bitcoin exchange-traded funds (ETFs) may be illegal in local markets. FSC claimed it may violate the existing government stance on virtual assets and the Capital Markets Act.
However, South Korea’s Office of the President asked the financial regulator to reconsider spot Bitcoin ETF possibility in the country by adopting a flexible approach. Thus, the FSS under the FSC will visit the SEC and Chair Gary Gensler to talk about the implications of spot Bitcoin ETF and regulatory landscape.
Also Read:
- Here’s What Nayib Bukele’s Re-election As El Salvador President Means for Bitcoin Investors
- Binance Team Rebuffs Any KYC Data Leaks On Dark Web
- XRP Selloff: Whale Offloads 29 Mln Tokens As Price Slips Near $0.50
- BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
- Best 10 Crypto Cards for 2025
- Expert Projects HYPE Token Upside as Bitwise Files for Hyperliquid ETF With SEC
- Expert Says Crypto ETFs Could Be ‘Death-Knell’ for Treasury Firms MSTR, MTPLF, BMNR, SBET
- Trump-Linked WLFI Passes 100% Buyback & Burn Proposal, Analyst Eyes Bullish Surge
- Is Ethereum Price Set for a rebound as Whale accumulation Intensifies?
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
- Bitcoin Price: Analyst Predicts Crash to $104K Before Explosive Rally on Fed Cut Pattern
- HBAR Price Elliot Wave Signals an 86% Rebound as Key Risks Remain
- Will Pi Coin Price Recover Before Month-End After Payochain Listing?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
