A new regulatory body in South Korea is expected to accelerate the decision-making process on Bitcoin ETF approval. The Virtual Assets Committee, operating under the Financial Services Commission (FSC), is set to hold its inaugural meeting this month. The committee will also tackle issues such as approving Bitcoin and Ethereum spot ETFs and allowing corporate virtual asset investment. The FSC plans to finalize the committee’s membership by the end of October and hold a kickoff meeting. The committee will consist of 15 members, including five officials from various ministries and nine members from the private sector. The FSC has emphasized that no decision on Bitcoin ETFs will be made until the committee is launched. Meanwhile, there have been calls from political and industry leaders to permit companies to buy cryptocurrencies, following the launch of Bitcoin ETFs by US-based firms. The FSC Chairman has stated that regulators aim to strike a balance between protecting crypto investors and fostering sector growth.
