South Korea’s Financial Supervisory Service Limits Coinbase Exposure in ETFs Amid Regulatory Crackdown
Main Idea
South Korea's Financial Supervisory Service (FSS) has directed local asset management firms to adjust their ETFs to comply with 2017 guidelines restricting investments in US-listed ETFs with crypto exposure, reflecting the country's cautious stance on institutional crypto investments.
Key Points
1. The FSS mandated local asset management firms to recalibrate their ETFs on July 23.
2. This action aligns with the FSC's 2017 guidelines limiting investments in US-listed ETFs with crypto exposure.
3. An FSS spokesperson stated that the regulatory stance remains unchanged despite evolving regulations in the US and other regions.
4. The move highlights South Korea's cautious approach to managing institutional crypto investment risks.
Description
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