BlockBeats News, June 27th - Today, South Korean Democratic Party representative Min Byeong-deok initiated an amendment to the "Capital Market and Financial Investment Business Act," aiming to include digital assets (virtual assets) in the scope of underlying assets and trust property of financial investment products. This amendment will allow digital assets such as Bitcoin to be used as underlying assets for financial products like Exchange-Traded Funds (ETFs) and provide a legal basis for trust companies to custody and manage digital assets. This move is one of South Korean President Lee Jae-myung's core election pledges.
If the bill is passed, South Korean investors will be able to indirectly invest in digital assets through institutionalized financial products, which will help enhance investor protection and market transparency.
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