Busan, South Korea will launch a blockchain-based decentralized digital goods exchange this year

ChainCatcher news, Busan, South Korea will establish a blockchain-based decentralized digital goods exchange, covering tokenized trading of movies, game IPs, precious metals, agricultural and livestock products, ships, real estate, and more, with plans to start operations within this year. The exchange system is designed as a decentralized fair trading system, with functions such as custody settlement, listing evaluation, and market monitoring separated into individual institutions, aiming to become the foundation for supporting virtual assets and security token trading in the future.

Additionally, to create a regulatory environment that can compete with places like Singapore and Abu Dhabi, South Korean financial authorities have negotiated to formulate various guidelines applicable within the regulatory free zone, and have actively submitted opinions during the supplementary legislative process of the digital asset law submitted to the National Assembly. Meanwhile, the exchange promotion committee plans to establish a legal entity in February and will begin system testing and other activities to accelerate the follow-up work for starting operations within this year. (Source link)