The head of South Korea’s Financial Supervisory Service (FSS), Lee Bok-hyun, stated that he intends to continue discussions with the Securities and Exchange Commission (SEC), with a particular focus on spot bitcoin exchange-traded funds (ETFs), as reported by Hankyung on Monday.
“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,” Lee stated to reporters.
It was reported in December that Lee and Gensler will be meeting for the first time to talk about cryptocurrency legislation. The FSS stated at the time that the goal of the January conference was to improve “cooperation between the two agencies” and scheduling coordination.
After ten years of attempts by the financial industry, the U.S. has allowed spot bitcoin ETFs for the first time. Regulators worldwide are debating whether or not to follow suit.