South Korea Presidential Election: Security Token Offerings (STO) Compete for Compliance, Both Candidates Call for Accelerated Legislation Upon Election

The legalization of securities tokens in South Korea is expected to accelerate after the election, and local financial institutions are also actively deploying to meet the era of blockchain asset fragmentation and efficient trading. (Synopsis: South Korea's ruling party pushes seven new crypto policies: abolition of exchange banking restrictions, opening of bitcoin ETFs, legalization of STOs.. (Background supplement: Overtake Taiwan!) Bank of Korea to launch "deposit tokens" on public chain to promote cross-border stablecoin platform cooperation The legalization of South Korea's security token (STO) is expected to accelerate legislation after the presidential election (6/3 vote), giving full compliance to this South Korean financial industry, which is regarded as the next generation of growth engines. At present, since the relevant regulations of South Korea (Capital Market Law, amendments to the Electronic Securities Act, etc.) have not yet been voted on in the National Assembly, STO products are still in a "gray area", which restricts the full participation of large financial institutions. There is now a consensus in South Korean politics about ST's potential to foster financial innovation. According to the Chosun Ilbo and Yonhap News Agency, both major presidential candidates have emphasized in their political opinions the need to promote the legalization of the STO as soon as possible, indicating that legislative obstacles are expected to be cleared quickly. Financial institutions actively card slots In order to meet the huge power of the STO market, major financial institutions in South Korea have launched a strategic layout and actively cooperated with technology companies to strengthen their "practical capabilities" in ST issuance, trading and management. For example, Hana Securities signed a memorandum of cooperation with STO professional firm Bycell Standard (MOU) Mirae Asset Securities formed "Next Finance" with Hanwha Financial Group and SK Telecom Initiative" (NFI) alliance and has completed the development of related systems. Shinhan Investment Corp. teamed up with SK Securities and Blockchain Global to promote the "PULSE" project NH Investment & Securities formed STO Vision Group with a number of institutions, and KB Securities and Shard Investment Company established the "ST Owners" agreement Daishin Securities as early as 2023 The acquisition of Casa, a real estate fragmentation investment platform, highlights the Korean financial community's high recognition of asset fragmentation brought about by STOs. Once STO legislation is finalized within this year, it is expected to have a profound impact on South Korea's financial markets. In the short term, it is expected to usher in a large number of new types of fragmented investment products, especially in real estate and other fields. In the medium and long term, the trend of "security tokenization" of traditional securities such as stocks and bonds will become more and more popular. Related stories Overtaking Taiwan! The Bank of Korea will launch a "deposit token" on the public chain to promote cross-border stablecoin platform cooperation Love brains should also take care of their wallets! South Korean woman sentenced to two years in prison while her boyfriend is not ready to transfer 680 million won "South Korean presidential election: security tokens (STOs) fight compliance, both candidates call for election to accelerate legislation" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".