South Korea's Cautionary Stance Against Spot ETF Trading

ETF spot trading 2024-01-12 71
South Korean securities firms, including Mirae Asset Securities and Samsung Securities, have suspended their brokerage services for spot Bitcoin ETFs listed in Canada and Germany following an advisory from the country's financial watchdog cautioning against domestic trading of overseas-listed Spot Bitcoin ETFs. The Financial Services Commission (FSC) has raised regulatory apprehensions over virtual assets, leaving major securities companies to take preemptive measures. While spot ETFs face restrictions, securities firms not included in the FSC's warning list are continuing to trade Bitcoin futures ETFs. The FSC has left open the possibility of investment in overseas-listed Bitcoin spot ETFs in the future as regulations on virtual assets are being established.