The president of the Korea Financial Investment Association (KOFIA), SEO YOO-SENO, called for the approval of the bargained funds (ETF) of the cryptocurrency and the formal recognition of the security tokens.
During a recent New Year’s Press Conference at the Kofia, SEO, SEO headquarters highlighted The potential growth in the virtual asset market, influenced by the pro-Crypto policies of American president Donald Trump. He suggested that Korea must act quickly to maintain a competitive position in the global cryptography landscape.
Reason behind the crypto ETF push
Last year, the American Securities and Exchange Commission (SEC) commission approved Bitcoin and Bitcoin and Ethereum ETF, leading to a wave of similar products from the main asset managers.
The president of Kofia, SEO Yoo-Seok, argued that Korea should follow the plunge, ensuring that the country is not left behind. According to SEO, these financial instruments could “improve market transparency, expand institutional participation and solidify the role of Korea” as a leader in the adoption of digital assets.
Meanwhile, another reason why referencing urges approval of cryptocurrency ETF is also to give millennials a test field before diving completely into virtual active ingredients. During the conference, the Kofia Chaiman said::
Everyone considers virtual active ingredients as an investment target for the MZ generation (Millennials + Generation Z), but people in the fifties and sixties also have a lot of interest and demand for virtual assets. Their funds are larger than those of the MZ generation, but I wonder if it is fair to let them go directly to virtual assets. This is why I think we have to list an ETF that is recognized worldwide, at least based on Bitcoin and Ethereum, in our market so that investors can invest comfortably and with peace of mind.
The push for regulatory advancement
In addition, the call for referencing to cryptocurrency ETF lines up with a wider thrust to institutionalize the safety tokens in Korea. Kofia plans to engage with financial regulators this year, arguing for the inclusion of the Bitcoin FNB and Etfthes Spot in the country’s financial framework.
In doing so, Korea could attract a greater institutional investment, improve liquidity and promote an “more robust digital asset ecosystem”. According to a local media, SEO said:
The inauguration of the second Trump administration is expected to further increase global companies linked to the virtual asset market. To make sure that Korea continues the trend, I will continue to support the institutionalization of safety tokens and put pressure for the approval of virtual assets.
In addition to crypto initiatives, SEO reaffirmed Kofia’s commitment to the government-led “value-UP” program. Presented last year, this policy aims to approach the perceived undervaluation of national actions, known as “awarded to Korean”.
SEO has described it as a complete effort to promote qualitative economic growth, strengthen the financial market and extend the financial assets of citizens. He called for collaboration between the government, the National Assembly and the private sector to ensure the success of the program.
Star image created with Dall-E, tradingView graphic
