Odaily News According to Korean media reports, Min Bingde, a member of the Democratic Party of Korea, today initiated an amendment to the Capital Market and Financial Investment Industry Act, aiming to include digital assets (virtual assets) in the scope of underlying assets and trust property of financial investment products. The amendment will allow digital assets such as Bitcoin to be used as underlying assets for financial products such as exchange-traded funds (ETFs), while providing a legal basis for trust companies to custody and manage digital assets. This move is one of the core campaign promises of South Korean President Lee Jae-myung and will bring a major turning point to South Koreas capital market.
If the bill is passed, Korean investors will be able to invest in digital assets indirectly through institutionalized financial products, which will help improve investor protection and market transparency. The U.S. Securities and Exchange Commission (SEC) has previously approved Bitcoin spot ETFs and Ethereum spot ETFs, but South Koreas current regulations do not allow the launch of such products. (News1)
