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<ul class="wp-block-list">
 <li>South Korea’s FSC is planning to lift the spot ETF ban.</li>
 <li>The deposits from Upbit make about 20% of all the deposits into K-bank.</li>
</ul>
South Korea’s Financial Services Commission (FSC) is reconsidering the possibility of lifting its long-term ban on spot exchange-traded funds (ETFs). It further allows institutional accounts on local crypto exchanges.&nbsp;
The Virtual Asset Committee will evaluate <a href="https://www.news1.kr/finance/financial-policy/5564086" target="_blank" rel="noopener noreferrer nofollow">approving</a> the virtual asset spot ETFs and allowing the corporate virtual asset accounts.&nbsp;
Since 2018, the strict guidelines of FSC have kept South Korea‘s institutional investors away from the <a href="https://thenewscrypto.com/south-korean-law-recognizes-cryptocurrency-in-divorce-settlements/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> market. Moreover, the FSC Chairman, Kim Byung-hwan mentioned that apart from reviewing the ETF policies, a detailed study of the monopolistic structure of virtual exchanges will be held in South Korea. Upbit dominates over 61% of the trading volume among the licensed exchanges in the country.&nbsp;
Moreover, it’s crucial to note the financial connection of <a href="https://thenewscrypto.com/upbit-slashes-withdrawal-fees-for-22-cryptos-effective-august-23/" target="_blank" rel="noopener noreferrer nofollow">Upbit</a> with K-bank, one of the first digital banks to debut in South Korea. Reportedly, the deposits from Upbit make about 20% of all the deposits into K-bank.&nbsp;
On the other hand, the exchange is one of the five licensed exchanges in the nation with over $1.17 billion daily transactions. In addition, its market share has increased by 80%, as per CMC <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">data</a>.
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South Korea Might Lift Ban on Spot Crypto ETFs

TheNewsCrypto

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