Korean Security Token Law Amended: Korean Blockchain Law Basics

The Financial Services Commission (the “FSC”) in February of 2023 announced a plan to overhaul the Security Token legal regime in Korea. Security tokens are digital representations of an asset traded and held on a blockchain. The announcement, seems to be in reaction to the Terra/Luna Meltdown and related meltdowns and belief that the the population needs more protections. We suspect to see the delisting of some Korean security tokens in Korea and a comprehensive and difficult process to listing.

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