South Korean financial regulatory agency refuses to approve ETFs investing in cryptocurrency companies

According to a report by South Korean Economic Television, the financial regulatory agency in South Korea has not only banned the issuance of cryptocurrency ETFs for spot and futures products, but also rejected funds investing in cryptocurrency companies, including exchanges. The head of an asset management company stated that their proposal to establish a fund to invest in cryptocurrency companies was rejected by the country's Financial Supervisory Authority.He mentioned that his company is preparing to launch an ETF focused on the US cryptocurrency exchange Coinbase and similar companies, but still needs to wait for approval from local regulatory authorities. At the same time, an official from FSS acknowledged the growing demand for Bitcoin investment, but stated that regulation will not be relaxed unless there is a change in current government policies.