Jeong Eun-bo, the head of the South Korea Stock Exchange, recently emphasized the need for approving Exchange-Traded Funds (ETFs) for digital currencies in the country. Amid the stock market crisis in the country, he advocated for the reconstruction of South Korea’s financial industry to strengthen the market and compete with other countries. Jeong stated that South Korea is the third largest country in the world for digital currency transactions and this industry could create new value in the financial sector. He warned that delays in approving digital currency ETFs could harm Korea’s market competitiveness against other countries. The success of Bitcoin and Ethereum ETFs in the U.S. apparently influenced a change in approach by the Financial Services Commission of South Korea (FSC). This regulatory body for South Korea’s financial markets, which had previously banned digital currency ETFs, is now reconsidering this ban through its new advisory group for digital assets.
