Kofia chairman says Korea should approve crypto ETFs

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Kofia chairman says Korea should approve crypto ETFs

Korea Financial Investment Association (Kofia) Chairman Seo Yoo-seok speaks during a New Year's press conference at Kofia's headquarters in western Seoul on Feb. 5. [NEWS1]

Korea Financial Investment Association (Kofia) Chairman Seo Yoo-seok speaks during a New Year's press conference at Kofia's headquarters in western Seoul on Feb. 5. [NEWS1]

 
Korea Financial Investment Association (Kofia) Chairman Seo Yoo-seok advocated that the nation approve the trading of cryptocurrency spot exchange-traded funds (ETFs) and institutionalization of security tokens, citing the growth potential of the crypto industry driven by U.S. President Donald Trump’s crypto-friendly stance.
 
“The inauguration of the second Trump administration is expected to further boost global virtual asset market-related businesses,” Seo said Wednesday during a New Year’s news conference at the association’s headquarters in western Seoul. “To ensure that Korea keeps up with the trend, I will continue to support the institutionalization of security tokens and push for the approval of virtual asset ETFs.”
 

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Seo said that Kofia would discuss the institutional adoption of Bitcoin and Ethereum spot ETFs this year with financial authorities.
 
A flurry of major asset managers have launched spot cryptocurrency ETFs after the U.S. Securities and Exchange Commission approved the trading of the asset for Bitcoin and Ethereum last year. Trump was a strong advocate for digital tokens during his presidential campaign, promising to create a national reserve of Bitcoin.
 
During the news conference, Seo also vowed a continued push for the Corporate Value-up Program, aimed at resolving the perceived undervaluation of domestic stocks — a phenomenon dubbed the “Korea discount.”
 
“The government-led ‘Value-up’ policy, introduced earlier last year, is a comprehensive strategy aimed at not just boosting stock prices, but also the qualitative growth of our economy and financial market as well as the expansion of Korean citizens’ assets,” Seo said.
 
“Although the situation may remain challenging due to many uncertainties, every economic unit, including the government, the National Assembly, and companies, should come together to proceed with the Value-up program.”
 
Seo promised that the Kofia would devise support measures to make the Value-up program “a national agenda and a cultural trend.”

BY SHIN HA-NEE [[email protected]]
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