Key Takeaways
- All main South Korean presidential candidates help legalizing spot Bitcoin ETFs.
- Bitcoin ETFs stay banned, with 100% of buying and selling quantity coming from retail traders.
- Previous guarantees to elevate the ban have did not end in regulatory motion.
South Korea could also be on the verge of legalizing spot Bitcoin ETFs, as all three high presidential contenders have expressed help for pro-Bitcoin insurance policies forward of the subsequent election.
Present standing of Bitcoin ETFs in South Korea
Presently, Bitcoin ETFs and institutional crypto funding stay banned within the nation, with buying and selling quantity pushed completely by retail traders.
Ki Younger Ju, CEO of onchain analytics agency CryptoQuant, famous on Might 14:
All three main South Korean presidential candidates help #Bitcoin ETFs and institutional funding.
Guarantees from political leaders
Democratic Social gathering chief Lee Jae-myung not too long ago promised to elevate the ETF ban and decrease transaction charges, aiming to create a “protected funding setting” for younger traders, based on The Korean Financial Day by day.
Related pledges have been made by his get together within the 2024 election cycle however have but to end in legislative adjustments.
Knowledgeable opinions & warning
Regardless of the guarantees, regulatory consultants stay cautious.
Anndy Lian, an intergovernmental blockchain adviser, instructed Cointelegraph:
They’ll tackle comparable stances as Hong Kong. Whether or not the ETFs can carry out or not will depend on varied different elements.
Historic context & comparisons
The ruling Individuals Energy Social gathering had additionally vowed to legalize Bitcoin ETFs earlier than President Yoon’s impeachment however did not comply with by means of.
Hong Kong legalized Bitcoin and Ether ETFs on April 30, 2024, although early buying and selling quantity lagged behind U.S. counterparts.
South Korea might comply with, however skepticism stays about how quickly regulatory change will materialize.