South Korea will submit related revised bills involving STO issuance and distribution to the National Assembly in the first half of the year

According to News1, South Korean financial authorities will submit the revised Electronic Securities Act and Capital Market Act to the National Assembly in the first half of this year, which contains the institutional basis for the issuance and distribution system of the security token (STO) market. Laws and regulations will officially establish the STO market next year, rather than as a sandbox or a special case, among which Li Xiuying (transliteration), head of the capital market department of the South Korean Financial Commission, announced at the sixth meeting of the National Congress Digital Assets Special Committee chaired by the National Power Party Develop a plan for the issuance and distribution of security tokens. In addition, the current work items of the Korean Financial Services Commission include: accepting security tokens in a digital way of securities according to the Electronic Securities Act, allowing security tokens to be issued without going through a securities company. At the same time, the Financial Supervisory Service will support the determination of whether virtual assets are securities, and improve the regulatory system for the issuance and distribution of security tokens.