South Korean Bitcoin ETF Decision May Be Expedited by New Regulator

A new regulatory body in South Korea is expected to speed up the decision on approving a Bitcoin ETF, according to reports. The Virtual Assets Committee, which will operate under the Financial Services Commission, is set to hold its first meeting this month. The launch of the committee is expected to accelerate discussions on approving Bitcoin and Ethereum spot ETFs, as well as allowing corporate virtual asset investment. The committee’s membership will be finalized before the end of October, with a kickoff meeting scheduled before the end of the month. The committee will consist of 15 members, with five officials from regulatory and governmental organizations and nine members from the private sector. The decision on a Bitcoin ETF will not be made until after the committee’s launch, according to the FSC.