The South Korea finance regulator has informally warned local asset managers to reduce their exposure to negotiated funds in exchange for crypto (ETF) and digital asset companies listed in the United States, according to a Herald Korea report.
The financial supervision service (FSS) has verbally said to several companies to limit their exhibition in Coinbase (Coin) and the strategy of Michael Saylor (MSTR), to comply with its 2017 political position.
The report seems to suggest a policy change by the country, as it was previously reported that the regulator was considering mitigating some of the Crypto’s commercial requirements. The FSS policy prohibits regulated financial institutions from holding or buying equity investments in digital assets.
An FSS official said that despite the change in the regulatory environment in the United States and South Korea, institutions must respect all current directives, added the report.
The FSS was not immediately available to comment.
