Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

SEC Chairman Gary Gensler to Meet with South Korea's FSS Head

Regulation: SEC Chairman Gary Gensler to Meet with South Korea's FSS Head

It became known that the chairman of the U.S. Securities and Exchange Commission (#SEC) Gary Gensler plans to meet with the leadership of the Financial Supervisory Service (FSS) in South Korea. This became known from the local media.

The agenda of the meeting will concern the classification of non-fungible tokens (NFT) and the possible approval of spot bitcoin-ETFs in South Korea. The meeting is reportedly scheduled for May 2024.

Lee Bok-hyun, the head of the FSS, reportedly intends to officially categorize NFTs as digital assets. If this market segment becomes subject to regulation, issuers may face new regulatory obligations.

Notably, there is no precise definition of NFTs: there is no consensus among industry participants on whether NFTs should be considered technological innovations, digital assets or securities. Nevertheless, according to FSS, NFTs are becoming a target of speculation as the overall cryptocurrency market is growing rapidly.

Reportedly, #Gensler and Lee Bok Hyun will be discussing the approval of bitcoin ETFs in South Korea. The country imposes restrictions on the introduction of investment products related to digital assets. In addition, domestic companies are prohibited from acting as intermediaries for cryptocurrency #ETFs traded internationally.

Interestingly, shortly before the launch of the Bitcoin ETF in the U.S., the SEC held talks with representatives of the BlackRock and NASDAQ stock exchanges.

Earlier, both the ruling and opposition political parties in South Korea announced their intention to launch a similar product before the elections on April 10, 2024. South Korea's cryptocurrency regulation law was passed in 2023 and is expected to take effect in July.

In January, a spokesperson for the Financial Services Commission of Korea (SFC) said that introducing cryptocurrency ETFs in #South Korea is not feasible. According to the representative, a ban on investment in virtual assets would help stabilize the financial market and protect investors.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: Celebrates 11th Anniversary with Prize Activities and Vision for the Future, a leading crypto exchange and Web3 innovator, has announced its 11th-anniversary celebrations, showcasing its milestones and launching prize-winning activities for its global user..
Market and Events: Binance launches small and mid-cap initiative
Cryptocurrency trading platform Binance aims to address the prevalence of tokens with low market capitalization compared to their fully diluted value (FDV). To address this issue, Binance is..
Press Releases: Happening Right Now - Marginly is Bootstrapping Liquidity
Marginly, the leverage-as-a-service protocol that enables one-click leverage on yield-bearing assets, kicked off its Liquidity Bootstrap Event on May 15. The protocol is rewarding..
Altcoins: The founder of Telegram commented on the launch of the Notcoin token
Pavel Durov, the creator of the Telegram messaging platform, shared his thoughts on the introduction of the Notcoin (NOT) cryptocurrency. He emphasized that the initiative has attracted more..