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Bitcoin spot ETFs became a campaign promise in South Korea - Bitcoin news - Uzmancoin - Crypto and Blockchain
Before the presidential elections to be held on June 3, 2025, in South Korea, the candidates of the two major political parties announced that they would support spot crypto ETFs.
The candidate of the Conservative People's Power Party, Kim Moon-soo, included the allowance for local spot crypto ETFs among his election promises. Kim stated that this step would be taken to promote wealth accumulation for the middle class. He also promised legal regulations to ensure a fair and transparent environment for the cryptocurrency market.
Last week, the Democratic Party candidate Lee Jae-myung also announced that he would support spot crypto ETFs. Lee stated that this move aims to provide more economic opportunities for young people.
The Financial Services Commission, the financial regulator of South Korea, currently does not allow spot cryptocurrency ETFs to be traded. FSC Chairman Kim Byung-hwan stated in a statement last week that they are positively approaching the candidates' promises and that the implementation plans will be evaluated with the new administration after the elections.
Published: May 12, 2025 14:16