South Korean Regulator Plans to Discuss Crypto Rules With US SEC Chair Gary Gensler

South Korea’s fiscal watchdog main is readying to sojourn the U.S. to sermon crypto regularisation with the president of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, with a absorption connected the SEC’s caller determination to o.k. spot bitcoin exchange-traded funds (ETFs). He stressed that currently, the interaction of SEC policies connected the satellite is important.

South Korea Seeks to Discuss Crypto Regulation With SEC Chair Gary Gensler

South Korea’s Financial Supervisory Service (FSS) Governor Lee Bok-hyun announced connected Monday his volition to sojourn starring fiscal markets successful 2024, including the U.S., section media reported.

During these visits, the FSS main plans to prosecute successful discussions connected cardinal regulatory issues, including those pertaining to the cryptocurrency industry, with a peculiar absorption connected spot bitcoin exchange-traded funds (ETFs). He stated during a Q&A with reporters:

I volition conscionable with SEC Chairman Gary Gensler (this year) and determination are areas wherever we volition absorption connected … specified arsenic virtual plus issues and bitcoin spot ETFs.

“Right now, the interaction of SEC policies connected the satellite is important … We [he and Gensler] request to conscionable and sermon this year,” the FSS politician emphasized.

After years of rejections, the U.S. Securities and Exchange Commission (SEC) approved 11 spot-bitcoin exchange-traded funds (ETFs) connected Jan. 10. Ten of them began trading the adjacent day, including Grayscale’s Bitcoin Trust (GBTC), which converted into a spot-bitcoin ETF, and Ishares Bitcoin Trust (IBIT) by Blackrock, the world’s largest plus manager.

South Korea has yet to o.k. immoderate spot bitcoin ETFs. Currently, virtual assets are not defined arsenic fiscal products successful the country, truthful the motorboat of spot bitcoin ETF would beryllium considered a usurpation of the Korean Capital Market Act, which mandates that ETFs way underlying assets similar stocks and bonds.

What bash you deliberation astir the South Korean regulator readying to sermon crypto regularisation with SEC Chair Gary Gensler, including issues surrounding spot bitcoin ETFs? Let america cognize successful the comments conception below.