‘No South Korea Bitcoin ETF Approval Before Elections,’ Say Experts
South Korean regulators will not give the green light to a domestic Bitcoin spot ETF before the nation’s next general elections, insiders claim.
Per Sobija Mandueneun Shinmun, anonymous financial investment industry officials believe that any new crypto regulation will now have to wait until the end of legislative elections in April.
South Korea goes to the polls on April 10. The opposition Democratic Party currently holds a massive 55% of National Assembly seats.
The officials predicted an “overhaul” of crypto law, in line with President Yoon Seok-yeol’s election manifesto promises.
However, Seoul-based regulators will not look to follow suit with their counterparts in Washington. One expert said:
“We believe that revisions to the laws and regulations governing virtual assets will be possible only after the general election is over. [Regulators] will, in the meantime, monitor the market situation to see how successful the US Bitcoin spot ETFs prove to be.”
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