Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
South Korea's leading presidential candidates support legalizing spot Bitcoin exchange-traded funds (ETFs) and institutional crypto investments, currently banned in the country. Democratic Party leader Lee Jae-myung has promised to legalize spot crypto ETFs and reduce transaction fees to create a safer investment environment for youth. Despite these pro-crypto pledges, regulatory experts express skepticism about immediate changes, citing historical inaction from previous administrations. The Financial Services Commission shows signs of regulatory openness, but past promises from the People Power Party to lift the ETF ban have not been fulfilled. In contrast, Hong Kong recently launched Bitcoin and Ether-based ETFs, which experienced low trading activity compared to US markets.
