South Korea’s financial supervisory service in talks with the US SEC

Head of South Korea’s Financial Supervisory Service (FSS), Lee Bok-hyun, has announced plans to maintain ongoing discussions with the US Securities and Exchange Commission (US SEC) to address crypto regulation. The focus of these discussions will be on spot bitcoin exchange-traded funds (ETFs). Lee recently met with SEC Chairman Gary Gensler to address issues related to virtual assets and bitcoin spot ETFs.

The primary purpose of the meeting between two chairman was to strengthen cooperation between the FSS and the SEC. The approval of spot bitcoin ETFs in the US has created ripples in the regulatory landscape, prompting regulators worldwide to consider similar actions. The move has sparked discussions and deliberations among regulatory bodies globally, as they evaluate the potential implications and risks associated with introducing bitcoin ETFs in their respective jurisdictions.

The outcome of these discussions will likely shape the future of cryptocurrency regulation and pave the way for greater collaboration between regulatory bodies internationally.