I. Introduction
In February 2023, the Financial Services Commission (“FSC”) published a ”Security Token Issuance and Distribution Regulation System Improvement Plan and Security Token Policy Tasks” (collectively referred to as the “Policy Tasks”). A security token is a security as defined under the Financial Investment Services and Capital Markets Act (the “FSCMA”) that is in a digitalized form and based on the distributed ledger technology. FSC replaced the term ”security-type token” with ”security token” to clarify that the FSCMA regulations on public disclosure, sales, and market order will apply. FSC unveiled its plan to overhaul the system that had previously caused difficulties in issuing and circulating security tokens.
II. Key Changes
1. Security Token Criteria
2. Security Token Market
3. Implications
* Click the PDF download button to read more
[Korean version] 토큰 증권(증권형 토큰)의 발행과 유통이 가능해집니다
