South Korea's Financial Services Commission plans to issue security token guidelines in January next year to judge the security nature of virtual assets

According to Newsis, South Korea’s Financial Services Commission will release guidelines for security tokens in January next year, which were originally scheduled to be released within this year. As Congress failed to expedite relevant legislation, the Administration decided to address the inconvenience to operators by making a separate guide public. A senior official of the country's Financial Services Commission said that in order to define and distribute tokens with security attributes, a system should be developed as soon as possible, so it was decided to issue security token guidelines first in January next year. There have been a number of incidents related to virtual assets recently, and attention to the relevant guidelines has also increased. Guidelines and restrictions should be established at such times. One of the most difficult questions is how many of the virtual assets that are currently traded are considered securities. Virtual asset issuers and exchanges will be able to check the securities nature of the virtual assets they issue and distribute through guidance published early next year.