An official at sole securities exchange operator, the Korea Exchange (KRX), says the bourse is closely eyeing developments from regulators in regard to () exchange-traded funds (). The official, reportedly speaking on condition of anonymity, was by local English-language daily The Korea Herald on Feb. 20.
ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are by some as a potential development that would herald the widespread of crypto as a regulated and passive investment instrument.
The U.S. Securities and Exchange Commission () has to date either or its decision on a wide of crypto-related ETFs. With the ’s review period of one proposal now set to come to a close by , the KRX official reportedly remarked:
“The US has been the front-runner on the market and related derivatives, and there are strong voices supporting the launch of ETFs within the market — which is why we are observing the progress and response of the US []’s decision on ETFs.”
The official added that KRX is extensively discussing the provision of a solid index, which would be “required for the launch of such ETFs […] when […] commercialized and integrated into the market […] because it would eventually concern investor protection issues.”
As The Korea Herald further reports, South Korea’s space has reportedly already seen the launch of ETFs by local investment banks and asset management firms — products whose listing is eased by the relatively lower level of scrutiny they receive from the country’s watchdog, the Financial Supervisory Service.
Lee Kyung-ho, a professor at Korea University’s Graduate School of Information Security, reportedly argued that the of the local sector would eventually pave the way to integration, remarking that:
“With the government expanding its investment in research and development of technology, the projects are expected to minimize or eliminate the risk of integrating transactions in the market.”
Lee further pointed to the fact that prospective relies on robust and compliance, which the Korean has already been of domestic .
In a recent interview with Cointelegraph, prominent CNBC commentator, crypto analyst and investor Brian Kelly said he there is no shot for a this year — but a very good chance in 2020.
Published at Fri, 22 Feb 2019 09:12:13 +0000
