South Korea's Crypto Market Eyes Revival with Potential Lift of ETF Ban in 2025
by aria-crypto.com
January 4, 2025 at 14:32
South Korea's Crypto Market Eyes Revival with Potential Lift of ETF Ban in 2025
On Thursday, Jeong Eun-bo, the chairman of the Korea Exchange, emphasized the intentions to potentially approve crypto-based ETFs by 2025 as part of its "value-up program" amidst market adversities and global demand for such products. Since their prohibition in 2017, there has been no movement on crypto ETFs in South Korea, but recent global trends and successful launches in other regions have influenced a reevaluation. The Korea Exchange's exploration into crypto ETFs aims to revitalize and diversify the local capital market, which has suffered from political strife and economic challenges, stalling further regulatory advancements. Jeong pointed out that the market had become sluggish compared to major countries, influenced by both global conflicts and domestic political issues. The Financial Services Commission of South Korea has shifted from stringent regulations, prompted by the success of Bitcoin and Ethereum ETFs globally. This movement towards incorporating digital assets into institutional finance comes as South Korea's market seeks to regain competitiveness and reposition in the international financial landscape. Furthermore, the National Assembly's recent political actions, including the impeachment of President Yoon Suk Yeol, have also stalled the regulatory process, making the future of crypto ETFs hinge on broader political resolutions.
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