Stocks and bonds eligible for security token offering: regulator
The Financial Services Commission offices within Government Complex Seoul / Korea Times photo by Hong In-ki
The country's financial regulator said Thursday that stocks, bonds, and funds will be eligible for a security token offering.
The Financial Services Commission said revised amendments to the Capital Market Act and Electronic Securities Act will take effect in February next year, and more detailed sub-rules are revised to allow financial assets such as stocks and bonds to back tokenized digital securities.
The proposed amendments came after legislative changes were announced on Sept. 4.
Under the revised regulations, individual investors' annual net investment will be capped at 100 million won ($73,700) in the over-the-counter market to be established later.