South Korean Lawmakers Seek to Include Cryptocurrency as Underlying Assets in ETFs

According to News1, on June 27, CoinWorld reported that Min Byeong-dug, a member of South Korea's ruling Democratic Party, has proposed an amendment to the Capital Markets Act. This bill would allow the creation of ETFs based on digital assets such as Bitcoin. The proposed revision aims to broaden the definitions of underlying assets and trust property in financial products to include cryptocurrencies. If passed, the bill would establish a legal foundation for the use of cryptocurrencies in financial instruments such as ETFs and permit trustees to hold and manage these assets.