Now both the ruling and opposition political parties of South Korea are promising to allow spot bitcoin ETFs ahead of the upcoming election.
South Korea’s opposing Democratic Party is pushing to allow local citizens to invest in spot bitcoin exchange-traded funds and enable financial institutions to launch their spot bitcoin ETFs, local news media reported Tuesday.
With the news, both ruling and opposing political parties have now reportedly taken on opening up spot bitcoin ETF investments and product launches in South Korea as one of their main pledges ahead of the general election on April 10. A member of the Democratic Party reportedly said that it may take legislative measures to revise the existing financial regulations to accommodate spot bitcoin ETFs if the country’s financial authorities decide to oppose the authorization of the products, Seoul Economy Daily reported.
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