SouthKorea issues guidance on security tokens, details inside
South Korea’s financial regulator has issued a set of guidelines outlining which types of digital assets will be considered and regulated as securities in the country.press release
It emphasized that digital assets that meet the requirements outlined in the country’s Capital Markets Act will be treated as securities. The FSC also gave examples of digital assets that are likely to be classified as securities. According to the FSC, this could include tokens that give holders a stake in business operations, rights to dividends or residual assets, or profit to investors.By amending its Electronic Securities Act, the FSC will also permit security token offerings .
According to the FSC, token issuers and brokers such as crypto exchanges will use the regulations to determine which crypto will be classified as securities. The regulator also stated that the evaluation will be done on a case-by-case basis.The financial regulator also stated that the new guidance is part of South Korea’s preparations for the legalization, issuance, and distribution of security tokens.
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