A member of the South Korean Democratic Party proposed a bill to include digital assets in the ETF underlying asset legislation

ChainCatcher news, South Korean Democratic Party member Min Byung-deok today initiated an amendment to the "Capital Markets and Financial Investment Services Act," aiming to include digital assets (virtual assets) within the scope of underlying assets and trust property for financial investment products.

The amendment will allow digital assets such as Bitcoin to serve as underlying assets for financial products like exchange-traded funds (ETFs), while also providing a legal basis for trust companies to custody and manage digital assets. This move is one of the key campaign promises of South Korean President Yoon Suk-yeol.

If the bill is passed, South Korean investors will be able to indirectly invest in digital assets through institutional financial products, which will help enhance investor protection and market transparency.