South Korea’s Financial Services Commission Plans to Submit Amendments to Electronic Securities Act and Capital Market Act for Institutionalizing Security Tokens

The Financial Services Commission of South Korea is planning to submit amendments to the Electronic Securities Act and the Capital Market Act to the parliament this month. This amendment aims to institutionalize security tokens and is expected to reflect the “Regulatory System Overhaul for Security Token Offerings and Transactions” announced by the commission in February. The proposed amendments will allow for the issuance of security tokens, establish account management agencies, over-the-counter trading intermediaries related to the issuance and circulation of security tokens.