South Korean Regulator to Meet US SEC Chair for Crypto Rules Discussion South Korea's FSS Governor, Lee Bok-hyun, has exciting plans to visit major financial markets in 2024, including the United States. His agenda? To engage in crucial talks on
regulatory matters, with a keen eye on the
cryptocurrency industry and, more specifically,
spot bitcoin ETFs.
In a recent Q&A session with reporters, Governor Lee expressed his eagerness to meet with none other than
SEC Chairman Gary Gensler. The focus of their conversation? The ever-evolving landscape of
virtual assets and the groundbreaking approval of 11 spot-bitcoin ETFs by the SEC earlier this year.
While the US has taken a significant leap forward in embracing these innovative investment vehicles, South Korea is yet to follow suit.
The current legal framework in the country does not recognize virtual assets as financial products, making the launch of spot bitcoin ETFs a potential breach of regulations.
Governor Lee stressed the global impact of SEC policies and emphasized the need for a meeting between him and Chairman Gensler this year. As two influential figures in financial regulation, their discussions could shape the future of crypto rules not just in their respective countries but worldwide.
With South Korea's regulatory landscape potentially shifting towards greater acceptance of digital assets, eyes are now on this anticipated encounter between two key players in shaping the future of finance.
