The South Korean National Assembly passed a bill to institutionalize tokenized securities, allowing compliant issuers to directly issue tokenized securities using blockchain technology.

According to Yonhap News Agency, the South Korean National Assembly passed amendments to the Capital Markets Act and the Electronic Registration of Stocks and Bonds Act today, institutionalizing Security Token Offerings (STOs). The amendments introduced a system for managing issuer accounts, allowing qualified issuers to directly issue tokenized securities using blockchain technology. They also permit the enhancement of security and practicality of securities through blockchain technology, providing a legal basis for the issuance and circulation of new types of digital securities.