According to a spokesperson for the FSC, the recent approval of spot Bitcoin exchange-traded funds (ETFs) in the United States will not prompt a reconsideration or lifting of the existing bans. The regulator prioritizes the stability of financial markets and the protection of investors over making popular decisions.
“The Government of the Republic of Korea has consistently adhered to the principle of prohibiting financial institutions from investing in virtual assets. Our goal is to maintain financial system stability and protect investor interests. Domestic financial companies will continue to be barred from investing in crypto-assets, and the launch of virtual currency-denominated exchange-traded instruments is not possible,” clarified the FSC.
In an emergency measure announced in December 2017, the South Korean government banned all local companies, as well as government employees, from holding, purchasing, and investing in digital currencies.