South Korea is gearing up for a significant discussion on Bitcoin ETF plans. The Head of the Financial Supervisory Service, Lee Bok-hyun, is set to meet with SEC Chair Gray Gensler this year to talk about it.
This meeting is crucial as South Korea is in the process of finalizing a comprehensive crypto regulation framework, scheduled for implementation in July 2024. The framework will provide clear guidelines on how virtual assets are classified.
Director Lee is set to meet with Gensler in the second quarter to talk about measures to promote the use of Bitcoin in South Korea, such as a Bitcoin spot ETF and a program to enhance corporate value.
This information was shared during Lee’s presentation of his 2024 business plan at the Financial Supervisory Service in Seoul. Lee confirmed the upcoming meeting during a Q&A session with journalists, highlighting the key topics of discussion.
“I met with SEC Chairman Gary Gensler (this year) and there are areas where we will focus on issues such as virtual asset issues and Bitcoin spot ETF.” Lee stated, adding, “This is important.”
