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- Lee Bok-hyun has introduced he’ll go to the U.S. and meet with the SEC Chairman Gary Gensler.
- In line with Lee, the go to will enable him to debate the digital asset business, together with the Bitcoin spot ETF.
- The go to will kind a part of Lee’s plans to go to superior monetary markets resembling New York within the second quarter.
The South Korean Head of Monetary Supervisory Service, Lee Bok-hyun, has introduced he’ll go to the US this yr and meet with U.S. Securities and Trade Fee (SEC) Chairman Gary Gensler. In line with a neighborhood report, the go to will enable Lee to debate the digital asset business, together with the Bitcoin spot ETF, with the SEC Chairman, Gary Gensler.
Lee introduced his marketing strategy for 2024 on the Monetary Supervisory Service in Yeouido, Seoul, on February 5. His plans embody visiting superior monetary markets resembling New York within the second quarter. He famous that the go to would enable him to debate Korean low cost measures, which confer with the tendency for South Korean securities to be assigned decrease valuations and different issues resembling Bitcoin spot ETFs and a company value-up program.
Whereas answering questions from reporters, Lee stated:
I’ll meet with the SEC Chairman Gary Gensler (this yr), and there are areas the place we are going to concentrate on points resembling digital asset points and Bitcoin spot ETF coverage.
Lee additional famous that the SEC’s coverage is having a big international influence, marking it as an essential improvement.
Underneath Gensler’s management, the SEC has permitted 11 spot Bitcoin ETF proposals following years of regulatory debates. The approval set a brand new tone within the digital forex business, contemplating the US’ management position within the international monetary ecosystem.
Lee didn’t present many particulars about his supposed dialogue with Gensler. Nevertheless, contemplating the position of each figures of their nations and the business in query, South Korean crypto practitioners can anticipate the assembly to concentrate on crypto insurance policies and regulation.
The result of the dialogue may considerably influence the event of the South Korean crypto market, which Statista’s information tasks to succeed in $1.8 billion in income this yr. The analysis platform additionally tasks an annual income development price of 5.12%, leading to a projected complete of $2.2 billion for the South Korean crypto market by 2028.
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