[Alpha Biz=(Chicago) Reporter Paul Lee] KB Securities is the first major securities company in Korea to restrict new purchases of Bitcoin Futures Exchange Traded Fund (ETF).

According to the financial investment industry on the 14th, KB Securities has decided to limit new purchases of futures ETFs based on virtual assets, including Bitcoin. As a result, investors who own the product can only order for sale.

KB Securities plans to continue the action until clear guidelines from financial authorities are presented. If the guidelines of the financial authorities are delayed indefinitely, the measures will continue.

The move is interpreted as taking into account the recommendation guidelines issued by financial authorities since the U.S. Securities and Exchange Commission (SEC) approved the listing and trading of bitcoin spot ETFs on the 10th (local time).

As KB Securities has stopped trading Bitcoin futures ETFs, it is impossible to rule out the possibility that the suspension of trading will spread to other securities firms.

 

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