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The South Korean STO Bill Passes First Parliamentary Review, Tokenized Securities Market Expected to Launch in the First Half of Next Year
BlockBeats News, November 24th, according to Naver, South Korea has advanced the institutionalization of Security Token Offerings (STOs) through amendments to the Electronic Securities Act and the Capital Market Act, which have passed through the National Assembly's Legislation and Judiciary Committee's subcommittee, laying the groundwork for the opening of the STO market in the first half of next year.
The amendments are expected to formally incorporate blockchain distributed ledger technology into the electronic registration system, allowing issuers to register and manage blockchain-based security tokens as electronic securities. At the same time, it will bring investment contract securities and non-monetary trust beneficiary securities, such as small-scale over-the-counter trading platforms, under regulation, providing a basis for the legitimate operation of fractional investment exchanges. If the bill is finally passed at the full National Assembly meeting next month, the tokenization and circulation of various physical assets such as real estate, art, and music copyrights will be able to unfold within the regulatory framework.
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