South Korea's approval of spot cryptocurrency ETFs is now expected to be delayed beyond 2024 due to legislative and regulatory hurdles. The delay stems from stalled amendments to the Capital Markets Act and the government's current focus on restructuring financial regulators and boosting the traditional stock market. This development has created uncertainty among investors who anticipated South Korea would soon follow the U.S. in approving such financial products. The legislative process involves four pending amendment bills, which could pave the way for future approval. However, the timeline remains uncertain, with analysts suggesting that approval might not occur until 2025 or later, contingent on legislative progress and shifting regulatory priorities.