A South Korean Democratic Party lawmaker has proposed including digital assets such as Bitcoin in ETF underlying assets.

According to South Korean media reports, Min Byung-deok, a member of the Democratic Party of Korea, today initiated an amendment to the "Capital Market and Financial Investment Business Act," which aims to include digital assets (virtual assets) in the scope of basic assets and trust property of financial investment products. The amendment will allow digital assets such as Bitcoin to be used as basic assets for financial products such as exchange-traded funds (ETFs), while providing a legal basis for trustees to hold and manage digital assets. This move is one of the core campaign promises of South Korean President Lee Jae-myung and will bring a major turning point for the South Korean capital market. If the bill passes, South Korean investors will be able to indirectly invest in digital assets through institutionalized financial products, which will help improve investor protection and market transparency. The U.S. Securities and Exchange Commission (SEC) has previously approved Bitcoin spot ETFs and Ethereum spot ETFs, while current regulations in South Korea do not yet allow the launch of such products. (News1) [Odaily Planet Daily]