On October 10th, according to The Block, South Korea's top financial regulator said it will reassess lifting the existing ban on local spot cryptocurrency ETFs and institutional accounts of cryptocurrency exchanges. The Financial Services Commission (FSC) said in its annual audit report on Thursday that its newly formed cryptocurrency committee will review the current ban. This shows a shift in the regulator's strict opposition to the entry of digital assets into traditional financial marekts. Following the approval of spot bitcoin ETFs in the United States in January this year, the country's regulator has reiterated its decision to maintain the ban on the listing of local cryptocurrency ETFs on the grounds that it could pose risks to financial marekt stability. Lawmakers in the country have been calling for change. Both the victorious Democratic Party and the opposition party pledged to approve local spot bitcoin ETFs in the general election earlier this year. The victorious left-wing party reportedly announced in May that it would ask the FSC to review the ban. Since 2018, under the strict guidance of the South Korean Financial Supervisory Commission, South Korean institutional investors have been effectively prohibited from opening cryptocurrency trading accounts on exchanges.