The highest financial regulatory agency in South Korea stated today that it will adhere to the regulations restricting financial institutions from launching cryptocurrency exchange-traded funds. An official from the Financial Services Commission of South Korea told local media Kyunghyang that the approval of a Bitcoin ETF in the United States will not prompt South Korean regulatory agencies to lift the ban or reconsider it. South Korea's Capital Markets Act currently limits the scope of underlying assets for investment contract securities such as ETFs to financial instruments, currencies, and general commodities, excluding cryptocurrencies. South Korea does not recognize cryptocurrencies as financial assets and has prohibited financial institutions from investing in cryptocurrencies since 2017. (The Block) https://t.co/3N8SGbc9v2

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