South Korea’s Leading Party Leans Towards Bitcoin ETF Commitment, Report Reveals

CoinMarketCap05-07

Key Points South Korea’s Democratic Party plans to request a review of the ban on spot Bitcoin ETFs. The party aims to make spot Bitcoin funds accessible to local retail investors. South Korea’s ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2433227678?lang=en_US&edition=fundamental","thumbnail":"https://academy-public.coinmarketcap.com/srd-optimized-uploads/1405bef510e043fc8536337261596341.png","is_english":true,"pubTime":"2024-05-07 17:54","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2433227678","market":"us","top_or_hot":-1,"title":"South Korea’s Leading Party Leans Towards Bitcoin ETF Commitment, Report Reveals","media":"CoinMarketCap","content":"<div>\n<p>Key Points\n\nSouth Korea’s Democratic Party plans to request a review of the ban on spot Bitcoin ETFs.\nThe party aims to make spot Bitcoin funds accessible to local retail investors.\n\nSouth Korea’s ...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/6639fa56222e6b4c0aba10a0/\">Source Link</a>\n\n</div>\n","source":"coinmarketcap_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>South Korea’s Leading Party Leans Towards Bitcoin ETF Commitment, Report Reveals</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSouth Korea’s Leading Party Leans Towards Bitcoin ETF Commitment, Report Reveals\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-07 17:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/6639fa56222e6b4c0aba10a0/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nSouth Korea’s Democratic Party plans to request a review of the ban on spot Bitcoin ETFs.\nThe party aims to make spot Bitcoin funds accessible to local retail investors.\n\nSouth Korea’s ...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/6639fa56222e6b4c0aba10a0/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BRRR","symbol_name":"Valkyrie Bitcoin Fund","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/6639fa56222e6b4c0aba10a0/","article_id":"2433227678","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/1405bef510e043fc8536337261596341.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433227678","pubTimestamp":1715075662,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Key Points South Korea’s Democratic Party plans to request a review of the ban on spot Bitcoin ETFs. The party aims to make spot Bitcoin funds accessible to local retail investors. South Kore","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BRRR":"Valkyrie Bitcoin Fund","BTCO":"Invesco Galaxy Bitcoin ETF","BK4585":"ETF&股票定投概念","BITB":"Bitwise Bitcoin ETF","BK4594":"比特币ETF概念","BITO":"ProShares Bitcoin Strategy ETF","BK4588":"碎股","IBIT":"iShares Bitcoin Trust","BK4550":"红杉资本持仓","DEFI":"Hashdex Bitcoin ETF","BTCW":"WisdomTree Bitcoin Fund","FDN":"First Trust Dow Jones Internet I","FBTC":"Fidelity Wise Origin Bitcoin Fund","HODL":"VanEck Bitcoin Trust ETF","EZBC":"Franklin Bitcoin ETF","GBTC":"Grayscale Bitcoin Trust"},"translate_title":"报告显示，韩国主要政党倾向于比特币ETF承诺","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCO":1,"IBIT":1,"HODL":1,"GBTC":1,"FDN":1,"FBTC":1,"EZBC":1,"DEFI":1,"BTCW":1,"BITB":1,"BRRR":1,"BITO":1},"content_text":"Key Points\n\nSouth Korea’s Democratic Party plans to request a review of the ban on spot Bitcoin ETFs.\nThe party aims to make spot Bitcoin funds accessible to local retail investors.\n\nSouth Korea’s Democratic Party, a left-leaning political group, is reportedly planning to ask financial regulators to reassess the current prohibition on spot Bitcoin exchange-traded funds (ETFs).\nThis move is seen as the party’s latest effort to make spot Bitcoin funds available for local investors.\nPolitical Influence on Crypto Regulation\nIn the recent general election held in April, the Democratic Party achieved a significant victory, securing 175 out of the 300 seats in the local legislative body. The ruling conservative party, on the other hand, won 108 seats. The Democratic Party had previously committed to facilitating the launch of spot crypto ETFs by local financial institutions and enabling retail investors to buy these funds through tax-exempt accounts.\nOnce the 22nd National Assembly of South Korea begins its session in June, the Democratic Party intends to ask the Financial Services Commission (FSC), the nation’s leading financial regulator, to reconsider the availability of spot Bitcoin ETFs in the local market. This information was revealed in a report by BloomingBit, which quoted a party member.\nRegulatory Hurdles\nAt present, the FSC does not permit the issuance or trading of spot Bitcoin ETFs. This restriction is based on the regulator’s conclusion that there is no legal foundation for Bitcoin or any other cryptocurrency to be used as an underlying asset for such products.\nIn case the FSC remains hesitant to approve Bitcoin funds, the Democratic Party is reportedly considering the option to modify existing financial regulations. The party representative did not immediately respond to requests for comments on the matter.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433227678"}