Korean Giants Samsung and Mirae Asset Hit Pause on Bitcoin ETF Brokerage Amid Regulatory Wave
Jan 12, 2024
Several major South Korean securities firms, including Samsung Group's securities division and Mirae Asset Securities Company, have temporarily suspended their brokerage services for spot Bitcoin ETFs. According to Foresight News, Samsung Securities managed assets of approximately $220 billion by the end of 2022, while Mirae's assets under management were about $215 billion as of June 2023. This suspension comes in the wake of South Korea's ban on domestic brokers providing brokerage services for overseas Bitcoin spot ETFs.