Approval of American Ethereum ETF Adds Pressure to South Korean Regulatory Agency

Following the recent approval of the Ethereum ETF 19b-4 application by the U.S. Securities and Exchange Commission (SEC), South Korean regulators are facing increasing pressure to approve cryptocurrency ETFs. Xangle, a leading digital currency data provider based in Seoul, opposes the traditional securities market’s ban on digital assets, calling it “outdated” and in need of modification to adapt to the growing importance of digital assets in modern finance. In contrast to their American counterparts, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) in South Korea have been cautious in introducing cryptocurrency trading into the traditional securities market.