Cryptocurrency ETF to be launched... Cryptocurrency ETF bill proposed in the 22nd National Assembly
Summary
- The report stated that with the proposal of the cryptocurrency ETF bill, Bitcoin and Ethereum ETFs are expected to be listed domestically.
- It was revealed that cryptocurrency ETFs and related products are already being actively developed overseas.
- The report indicated that they aim to build a self-regulatory management system by attracting investors with expertise to the cryptocurrency market.
It has been revealed that a cryptocurrency (crypto) ETF bill was proposed for the first time in the 22nd National Assembly.
According to Representative Jung Sung-kook's office of the People Power Party on the 17th (KST), Rep. Jung proposed an amendment to the "Capital Markets and Financial Investment Business Act." The core of the bill is to allow asset management companies to invest in virtual assets. If the bill passes, Bitcoin (BTC) and Ethereum (ETH) ETFs are expected to be listed in South Korea.
Rep. Jung's office said, "Currently, cryptocurrency ETF approvals and active development of related products are underway overseas," adding, "As the domestic cryptocurrency market relies on exchange autonomy, we aim to build a self-regulatory management system by attracting investors with expertise through this bill."
Rep. Jung stated, "If experts evaluate cryptocurrencies based on market logic and launch related products, cryptocurrencies without competitiveness will naturally be eliminated," adding, "Beyond this self-purifying effect, investor protection will also be strengthened through cryptocurrency ETFs."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
