South Korea’s Financial Supervisory Service has instructed local asset managers to minimize crypto stock exposure in ETFs, emphasizing a cautious regulatory stance since the 2017 ‘Emergency Measures for Virtual Currency.’ The guidance primarily targets stocks of firms like Coinbase.
The focus now is on how this directive will affect crypto ETF approvals and the adaptation of regulations. President Lee Jae-myung advocates for innovations such as spot crypto ETFs and a won-based stablecoin to modernize the digital capital market.
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