South Korea is about to make a major decision on the investment funds circulating in Bitcoin. The country’s financial supervision service is closely monitoring the trends of digital asset legislation in the neighboring country, Japan, and sharing ideas with relevant local agencies. While Japan traditionally contacted cryptocurrencies with caution, it is now considering classifying it as financial products, which may lead to raising the current ban on traded investment funds.
South Korea takes Bitcoin ETF
According to the local media ReportsKim Soy Young, Vice -Chairman of the South Korea Financial Services Committee, stated that the Instant Bitcoin investment funds will undergo a “accurate review”. This comes at a time when South Korea faces great interest in encryption investments, with more than 30 % of its citizens actively participated in encryption assets. Despite political instability, the government is pushing forward with encryption regulations, which include allowing charities and universities to accept cryptocurrency donations starting in the second half of 2025.
Nikkei reported on February 10 that the Financial Services Agency in Japan is circulating on how to put encrypted currencies within its financial system, which may remove the ban on the investment funds circulating in encryption. However, these discussions are expected to extend to 2025, with a legislative proposal that is likely to be presented to the National Assembly by 2026.
Kim Sao Young commented during a press conference after the virtual assets committee meeting that the Bitcoin Fast Boxes review in South Korea will be dealt with cautiously. She noted that other countries, such as the United Kingdom and Japan, have not yet implemented such measures, indicating that South Korea will carefully monitor global trends before making a decision.
Also read: FSC in South Korea offers sales of encryption assets to prevent market fluctuations
