South Korean National Assembly Passes Legislation to Institutionalize Security Token Offerings (STO)

Foresight News reported, according to Yonhap News Agency, that the South Korean National Assembly today passed amendments to the "Capital Markets Act" and the "Electronic Registration of Stocks and Bonds Act" aimed at institutionalizing Security Token Offerings (STO). The amendment introduces an issuer account management institution system, allowing qualified issuers to directly issue security tokens using blockchain technology. This legislation aims to enhance the security and practicality of securities through blockchain technology, providing a legal basis for the issuance and circulation of new digital securities. In addition, the meeting also addressed a total of 11 livelihood bills, including expanding information sharing related to telecom fraud and special tax exemptions for youth future savings.