Published on January 19, 2024 03:01 GMT+00:00edited on January 19, 2024 03:04 GMT+00:00

South Korea’s Office of the President has urged the financial regulator to reconsider the possibility of approving a local spot bitcoin exchange-traded fund (ETF), an official of the presidential office said.

Sung Tae-yoon, the chief of staff for policy of the presidential office, said in a briefing on Thursday that the South Korean government is exploring ways to incorporate foreign affairs into local regulations — which may indicate the country’s openness to launching spot crypto ETFs, local news outlet Maeil Business reported Friday.

The presidential office’s comment comes after the Financial Services Commission last week warned local firms that brokering foreign-listed bitcoin spot ETFs might be interpreted as a violation of capital market regulations. Following the announcement, …