South Korea will establish a cryptocurrency securities market

Chain Catcher News, South Korea's top financial regulator plans to establish a separate digital securities market similar to KOSPI (Korea Composite Stock Price Index) to promote the institutionalization and adoption of cryptocurrencies. The plan is for the Korea Exchange (KRX) to operate the digital securities market and for securities firms to act as agents for trading. The proposal requires the Korea Securities Depository to review and register the list of security tokens issued by issuers or applied for through brokerage firms. The Depository will also manage the total amount of listed tokens.

For the purpose of protecting investors, tokens will be allocated in the same manner as existing securities. It will also allow for limited-scale over-the-counter trading in the early stages of the market. Previously, President Yoon Suk-yeol's government announced plans to promote the allowance of Initial Coin Offerings (ICO) and Security Token Offerings (STO). (Source link)