The mayor of Seoul, South Korea has expressed support for cryptocurrency ETFs and STOs, calling for a regulatory framework

According to Yonhap Infomax, Seoul Mayor Oh Seok-hoon has expressed his support for cryptocurrency ETFs and security token offerings (STOs). In a Facebook post, Mr. Oh said that South Korea should develop a regulatory framework that combines virtual assets with the real economy, similar to the models in the United States and Europe. He stressed the importance of establishing foundational legislation for virtual assets, which will enable cryptocurrency ETFs, corporate cryptocurrency exchanges, and STOs, noting that these practices are already widely accepted in leading countries.