South Korea FSC plans to launch virtual asset spot ETF in the second half of the year

According to Foresight News, according to South Korea Fnnews, the South Korean Financial Services Commission (FSC) issued a statement on the implementation of the new government's commitment to the implementation of the plan in the work report of the State Planning Commission, saying that it plans to launch virtual asset spot exchange-traded funds (ETFs) in the second half of this year and will improve the regulatory system of stablecoins. The Korea Financial Services Committee will consider the risks of linkage between the financial market and the virtual asset market, its impact on the real economy and the interests of investors, and formulate a plan to launch virtual asset spot ETFs in the second half of the year. The committee plans to formulate benchmarks for introducing spot ETFs for virtual assets, and improve relevant infrastructure such as establishment, custody, operation, and evaluation, as well as investor protection mechanisms.

The Korea Financial Services Commission is also advancing the second phase of legislation on virtual assets listing and disclosure, business operations, and investigations and penalties for misconduct, aiming to establish regulations related to stablecoins to protect users.

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