According to Foresight News, the South Korean Democratic Party is reportedly planning to request the Financial Services Commission for an authoritative interpretation of Bitcoin spot ETFs in June. This news comes from South Korean media outlet Hankyung. Currently, the financial authorities in South Korea have stated that Bitcoin spot ETFs do not fall under financial investment products. This is because the underlying assets of the ETFs do not include virtual assets as stipulated by the Capital Market Act.
Previously, the South Korean Democratic Party announced that as a key promise for the 22nd general election, they would allow the issuance, listing, and trading of spot ETFs based on Bitcoin and other virtual assets. This move is seen as part of the party's commitment to embracing the growing influence of digital currencies in the financial market.
