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South Korea’s ruling party considers allowing spot bitcoin ETFs in election pledges: report

• February 19, 2024, 5:40AM EST
Published 1 minute earlier on

South Korea’s ruling People Power Party is looking into ways to allow spot bitcoin exchange-traded funds (ETF) as part of its campaign promises for the upcoming general election in April, according to a local media report on Monday. 

Aside from spot bitcoin ETFs, the right-wing party said it will review legislative measures to approve other cryptocurrency-related investment products that have been greenlit in the U.S., South Korean news agency News1 reported. Last month, the country’s financial regulator reiterated its ban restricting financial institutions from launching any kind of cryptocurrency ETFs.

The ruling party is also planning to consider gradually lifting the country’s ban on institutional investment in crypto and initial exchange offerings (IEO). In the case of institutional crypto…

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