South Korean financial regulators refuse to approve ETFs investing in virtual assets

ChainCatcher news, South Korean financial regulators have banned the issuance of cryptocurrency ETFs for spot and futures products, while also rejecting funds that invest in crypto companies, including exchanges.

A head of an asset management company stated that they have been preparing to launch a fund investing in virtual asset companies since the end of last year, but have yet to receive approval from local regulators.

Meanwhile, an official from the FSS acknowledged the growing demand for Bitcoin investment but stated that regulatory measures would not be relaxed unless there is a change in the government's current policies.