FSC Chairman Nominee Expresses Concerns Over Spot Bitcoin ETFs

IconCryptoNewsTerminal Staff21 Jul, 2024

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FSC Chairman Nominee Expresses Concerns Over Spot Bitcoin ETFs

Kim Byeong-hwan, a candidate for the chairmanship of the Financial Services Commission (FSC), has expressed his negative stance on allowing spot Bitcoin ETFs in South Korea. According to Herald Economy, Kim stated that a comprehensive review of various factors, including financial market stability, investor protection, and global trends, is necessary before making a decision on the matter. Kim also refrained from making further comments on policies related to virtual asset taxation, stating that they are matters for discussion between the National Assembly and the Ministry of Finance. This contrasts with his previous statements calling for the abolition of the financial investment income tax.

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