South Korean Democratic Party lawmakers propose to include digital assets in ETF Basic Assets Bill
Internet reports that South Korea's Common Democratic Party MP Min Byung-duk today initiated an amendment to the Capital Market and Financial Investment Industry Law, aiming to include digital assets (virtual assets) in the scope of basic assets and trust assets of financial investment products. The amendment will allow digital assets such as Bitcoin to be used as the underlying assets for financial products such as exchange-traded funds (ETFs), and also provide a legal basis for trusts to custody and manage digital assets. This move is one of South Korean President Lee Jae-myung's core campaign promises. If the bill is passed, South Korean investors will be able to indirectly invest in digital assets through institutionalized financial products, helping to improve investor protection and market transparency.
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