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As South Korea approaches a decision regarding Bitcoin 
$104,729 exchange-traded funds (ETFs), it is reportedly drawing lessons from Japan’s regulatory framework. According to the Maeil Business Newspaper, financial regulatory bodies in South Korea are analyzing Japan’s approach to digital assets to guide their own regulatory developments.
Examining the Japanese Model
The Financial Supervisory Service of South Korea has shared insights from Japan’s Financial Services Agency, focusing on the legislative changes pertaining to digital assets. Discussions in Japan are centered on evaluating digital assets alongside securities and easing restrictions on Bitcoin ETFs. Reports indicate that this evaluation is expected to take place in the first half of 2025, with a goal of presenting it to the legislative body by 2026.
Regulatory and Political Developments
While the South Korean government continues its work on cryptocurrency regulations, it is navigating a politically charged atmosphere. A significant portion of the population has invested in digital assets, prompting close scrutiny of the government’s actions in this sector. Additionally, regulations enabling universities and charities to convert crypto donations into cash are set to be implemented in the latter half of 2025.
Kim So-young, the Vice Chair of the Financial Services Commission, addressed the media, emphasizing that careful examination will be undertaken and that South Korea aims to align its steps with those of other nations. She noted that some countries have yet to implement similar measures.
Regulatory bodies continue to monitor the cryptocurrency market closely, particularly in light of stringent domestic rules. Major platforms like Upbit have faced penalties and legal actions to protect their reputations due to scrutiny over their customer identification processes.
These developments in South Korea can be seen as part of a broader regulatory and technological adaptation process within the cryptocurrency world. The implementation of these measures aims to alleviate market uncertainties and enhance investor confidence.
