South Korean lawmakers seek to include cryptocurrencies as underlying assets in ETFs

According to News1, Min Byeong dug, a member of the ruling Democratic Party in South Korea, has proposed a bill to amend the Capital Market Act, which will allow the creation of ETFs based on digital assets such as Bitcoin. The proposed revision aims to expand the definition scope of underlying assets and trust assets in financial products to include cryptocurrencies. If the bill is passed, it will lay a legal foundation for the use of cryptocurrencies in financial instruments such as ETFs and allow trustees to hold and manage these assets.