- The talks center on the spot Bitcoin ETF and crypto regulation.
- More countries have been joining the spot Bitcoin ETF market after the US.
The South Korean head of the Financial Supervisory Service (FSS) is reportedly eyeing talks with the US SEC regarding spot Bitcoin ETF. Lee was quoted by local reporters on Monday saying:
“I met with SEC Chairman Gary Gensler (this year) and there are areas where we will focus on issues such as virtual asset issues and bitcoin spot ETF.”
The meeting comes after, in December, reports emerged that Lee was seeking a meeting with the SEC to discuss crypto regulation. The meeting was supposedly meant to strengthen cooperation between the two regulators in digital assets.
See Related: Bitcoin Targets $3,300; Ethereum Is Eyeing $2,300 Following The Overall Bullish Trend
Increased Interest in Spot Bitcoin Products
South Korea’s move to seek discussions with the SEC comes after the US regulator approved the first spot Bitcoin ETF. Other regulators worldwide are borrowing a leaf from the US amid concerns over the potential risks that the products pose.
China’s asset manager, Harvest Global Investments, recently filed a spot Bitcoin ETF with the Hong Kong regulator. The ETF is expected to debut in the Spring, with Hong Kong positioning itself as a major Asian crypto hub.
More jurisdictions are expected to join the spot Bitcoin ETF bandwagon even as regulators study the US case before making a move. The US approval is also seen as an endorsement of Bitcoin as an asset class despite the regulator showing less enthusiasm to allow such products. Instead, the SEC approved the spot ETF under legal pressure.
