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Home » South Korea’s FSC warns against brokerage of foreign Bitcoin ETFs – CryptoSlate

South Korea’s FSC warns against brokerage of foreign Bitcoin ETFs – CryptoSlate

South Korea’s FSC warns against brokerage of foreign Bitcoin ETFs – CryptoSlate

South Korea’s Financial Services Commission raised concerns that domestic securities firms brokering overseas-listed Bitcoin spot exchange-traded funds (ETFs) may violate local laws, according to a Jan. 12 notice.The regulator acknowledged that the country was creating a regulatory regime for the emerging industry but cautioned that the brokerage services for these foreign ETFs might be violating its Virtual Asset User Protection Act and the Capital Markets Act.The FSC further announced intentions to conduct a comprehensive review of its regulations, aligning them with international practices.Following the warning, several local securities firms, including Samsung Group’s securities division and Mirae Asset Securities, reportedly halted their services… 

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