{"id":12385,"date":"2025-02-11T05:31:31","date_gmt":"2025-02-11T05:31:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12385"},"modified":"2025-02-11T05:31:31","modified_gmt":"2025-02-11T05:31:31","slug":"south-korea-must-approve-crypto-etfs-sooner-than-later-korea-exchange-chief","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12385","title":{"rendered":"South Korea Must Approve Crypto ETFs \u2018Sooner Than Later\u2019 \u2013 Korea Exchange Chief"},"content":{"rendered":"
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Korea Exchange chairman Jeong Eun-bo recently pushed for the country\u2019s approval of crypto exchange-traded funds (ETFs). Amid the country\u2019s stock market crisis, he urged revamping South Korea\u2019s financial industry to strengthen the market and compete with other nations.<\/p>\n

South Korea \u2018Needs\u2019 Crypto ETFs Approval<\/h2>\n

On Sunday, Jeong Eun-bo, chairman of South Korea\u2019s Stock Exchange, called<\/a> for the approval of crypto ETFs. In an interview with The Korea Economic Daily, Jeong explained the stock market crisis and the need to modernize the country\u2019s financial industry.<\/p>\n

According to the report, the Korean stock market has suffered due to a decreasing retail investor base, resulting in a 15% Korea Composite Stock Price Index (KOSPI) drop in the second half of 2024.<\/p>\n

Moreover, investors are increasingly complaining about the \u201cunfair trading allegations using non-disclosed information, repeated spin-offs, forgettable capital increases, and the plethora of \u2018zombie companies.\u2019\u201d<\/p>\n

Jeong highlighted that South Korea is the third-largest digital asset trading country worldwide, noting that the crypto industry<\/a> is an area where \u201cnew value can be created\u201d in the financial sector.<\/p>\n

Delaying the approval of the long-awaited crypto-based ETFs could harm<\/a> the Korean market\u2019s competitiveness against other nations. The Korea Exchange chief pointed out that the investment products have been successfully listed and actively traded in the US, suggesting that South Korean regulators should approve them as soon as possible.<\/p>\n

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South Korea is the world\u2019s third-largest cryptocurrency trading country. Crypto is an area where new value can be created in the financial industry. The U.S. has listed and actively traded exchange-traded funds. We need to approve crypto ETF trading sooner rather than later.<\/p>\n<\/blockquote>\n

US Crypto ETFs Influence South Korea\u2019s Regulatory Shift<\/h2>\n

Jeong stated that the political sphere doesn\u2019t \u201cknow the reality\u201d of the market, which has resulted in excessive legislation that has stifled the market\u2019s growth. South Korea\u2019s regulator, the Financial Services Commission (FSC), banned crypto ETFs in 2017, reaffirming its stance when the US Securities and Exchange Commission (SEC) approved the investment products a year ago.<\/p>\n

However, the success of the US spot Bitcoin and Ethereum ETFs appears to have influenced the FSC\u2019s ongoing regulatory shift. The Korean watchdog is moving from strict regulations and will review the ban through its newly formed advisory group for digital assets.<\/p>\n

The Korea Exchange chairman has repeatedly<\/a> pushed the South Korean regulators to evaluate and incorporate digital assets into institutional finance to revitalize the local market and prevent falling behind international markets.<\/p>\n

In January, Jeong revealed the Stock Exchange\u2019s plan to \u201cexplore\u201d the approval of crypto-based ETFs. He explained that the South Korean capital markets faced significant challenges last year, which weakened local companies\u2019 growth potential.<\/p>\n

The Korea Exchange chief added that the market risks facing these challenges again in 2025 due to unfavorable domestic and global economic conditions. Similarly, Seo Yoo-seok, Chairman of the Korea Financial Investment Association (Kofia), recently called<\/a> for the approval of the investment products.<\/p>\n

During a conference, the chairman noted the potential of the digital assets market, suggesting that the country must follow the US lead and approve the financial instruments. Seo affirmed that the investment products could enhance market transparency, broaden institutional participation, and solidify Korea as a leader in digital asset adoption.<\/p>\n

\"crypto,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Korea Exchange chairman Jeong Eun-bo recently pushed for the country\u2019s approval of crypto exchange-traded funds (ETFs). Amid the country\u2019s stock market crisis, he urged revamping South Korea\u2019s financial industry to strengthen the market and compete with other nations. South Korea \u2018Needs\u2019 Crypto ETFs Approval On Sunday, Jeong Eun-bo, chairman of South Korea\u2019s Stock Exchange, called […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12385","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12385"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12385\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}