The Finance Regulator of South Korea has informally warned local asset administrators that reduce their exposure to funds quoted by the exchange of cryptocurrencies (ETF) and digital asset companies that are quoted in the USA. UU., According to a report by the Korean Herald.
The Financial Supervision Service (FSS) verbally told several companies that would limit their exposure to Coinbase (COIN) and the strategy of Michael Saylor (MSTR), to fulfill its 2017 policy position.
The report seems to suggest a change in the country’s policy, since it was previously reported that the regulator was looking to relieve some of the commercial requirements for crypto. The FSS policy prohibits regulated financial institutions from having or buying capital investments in digital assets.
A FSS official said that despite the change in the regulatory environment in the United States and South Korea, institutions must comply with the current set of guidelines, the report added.
The FSS was not immediately available to comment.
