Kweon Seong-dong, third from left, the floor leader of the ruling People Power Party, speaks during a meeting with government officials and heads of local cryptocurrency exchanges at the National Assembly in Seoul, March 7. Yonhap
The government and the ruling People Power Party (PPP) said Friday they will consider moving to approve exchange-traded funds (ETFs) tracking spot prices of cryptocurrencies.
The two sides will "review international trends" and the necessary legal revisions to approve trading ETFs for crypto assets, Kim Sang-hoon, the PPP's top policymaker, told reporters.
Kim made the remarks after a meeting with government officials and heads of local cryptocurrency exchanges.
The government has maintained a cautious stance on introducing ETFs for virtual assets, citing increasing risks to its financial system.
According to the PPP and the government, 2,500 listed firms and 1,000 professional investment corporations, excluding financial institutions, will be allowed to trade crypto assets starting in the second half of this year. (Yonhap)
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