South Korea plans to explore exchange-traded funds (ETFs) and allow companies to issue security tokens in 2025.
according to Local media reportsThe South Korean government is reportedly considering introducing cryptocurrency ETFs.
In addition to cryptocurrency ETFs, South Korea is preparing to enable companies to issue security tokens starting in 2025.
Related: Cryptocurrency trading in South Korea exceeds stock market by $18 billion in 24 hours
“Our market has shown a significant slowdown compared to major countries”
Korea Stock Exchange Chairman Eun Bo-jeong announced that he wants to explore new businesses such as virtual currency ETFs.
Referring to the difficulties faced by South Korea in 2024, Chairman Chung said: “Last year, our capital market faced great difficulties.” He added: “While the growth potential of our companies weakened due to the contraction of the local economy and the slowdown in exports, our market showed a significant slowdown compared to major countries due to global conflicts and internal political situations.”
While the country aims to create a new growth engine for the capital market, Zhong said the country will continue to “measure the external cases of new companies such as virtual currency ETFs and explore new areas in the capital market.”
“There is a great deal of uncertainty surrounding the Korean economy, but if we combine our wisdom with the National Assembly, the government, the stock exchange and the investment industry, our capital market will be able to leap forward as a more advanced market,” Chung said.
Financial Services Commission Chairman Kim Byung-hwan said: “We will institutionalize STOs (tokenized securities), segmented investment platforms, and unlisted equity platforms to diversify the securities issuance and distribution system and promote the introduction of corporate growth collective investment vehicles (BDCs). ”
He added: “We will reorganize the entire system so that comprehensive financial investment companies can fulfill their original role of providing financing to companies and venture capital.”
Polish: South Korea’s adoption of cryptocurrencies is booming!
• 45% of economically active citizens own cryptocurrencies (15.6 million people).
• $69 billion in digital assets. Average portfolio size: $4,400.
• 100 thousand new investors join the market every month.
• The top 5 stock exchanges trade $10 billion daily,… pic.twitter.com/zvySzWuawh— Cointelegraph (@Cointelegraph) December 25, 2024
South Korea doesn’t want to be mysterious about cryptocurrencies anymore! The head of the stock exchange calls for institutionalization
On December 15, 2024, in an interview with local media, Jeong Eun-bo, Chairman of the South Korea Stock Exchange, urgently called for the institutionalization of the cryptocurrency market.
“We need to quickly institutionalize the virtual currency market and work to create new added value,” the Chairman of the Board of Directors said.
His comments come amid concerns that the country may fall behind other countries that have already embraced and regulated digital assets.
Retail cryptocurrency trading volumes in South Korea rose to $18 billion within 24 hours on December 2, 2024, outpacing the country’s stock market by 22%, according to a report by 10x Research.
“The virtual currency market has now grown in size and influence to the point that traditional markets cannot ignore it. Our country should also make rapid efforts to include virtual currency in institutional finance,” Eun-bo said.
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