Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
South Korean Financial Regulator Aims to Roll Out Security Token Guidelines

South Korean Financial Regulator Aims to Roll Out Security Token Guidelines

by BitDegree
September 7, 2022
in Global
Reading Time: 2 mins read
3k
A A
0
Share on FacebookShare on Twitter

South Korea continues to implement various crypto-related regulations. 

South Korean Financial Services Commission (FSC), a leading financial regulator in the country, shared its plans to launch guidelines for security tokens and the securities market for crypto tokens. 

According to the press release shared on September 6th, the FSC hosted a policy seminar to discuss the “revision of the system of issuance and distribution of security tokens.”

You might also like

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
7.3k
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
7.3k

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

In the seminar, FSC met with Korea Exchange, Financial Supervisory Service, Capital Market Research Institute, and Korea Securities Depository. During the meeting, FSC highlighted that in order to “support the sound development of the market and industry,” separate guidelines for blockchain-issued securities are a must. 

The FSC plans to launch its security token guidelines in the 4th quarter of 2022. After issuing guidelines, the financial regulator is set to establish the “Security Token Discipline System” by revising Capital Market Act and Electronic Securities Act. 

Afterward, the financial regulator aims to launch the digital securities market supervised by the Korea Exchange (KRX). The applications and registration process will be managed by the Korea Securities Depository. However, before launching the actual market, the regulator will roll out a pilot version using a financial regulation sandbox. 

Based on the project, tokens will be available “in the same method as existing securities.” Moreover, in the beginning, users will be able to use over-the-counter trading on a limited scale. 

During summer, the South Korean government was relatively active in making various crypto-related decisions. On July 21st, the government postponed the 20% crypto gains taxation to 2025. Initially, the law was introduced in 2021 and was supposed to start operating on January 1st, 2022. However, the government later pushed back the law to 2023 and is now set to launch it in 2025.

Moreover, on August 22nd, The South Korean Ministry of Strategy and Finance announced that it plans to impose taxes for crypto airdrops, hard forked tokens, and staking rewards. 

Aaron S. - Expert Reviewer

by Aaron S. – Expert Reviewer, BitDegree


This article was originally published in Bitdegree and can be viewed here:

https://www.bitdegree.org/crypto/news/south-korean-financial-regulator-aims-to-roll-out-security-token-guidelines

Tags: Bitdegree
Previous Post

Celsius Co-Founder Daniel Leon Claims That His Equity Stake Is “Worthless”

Next Post

Thailand’s Financial Regulator Filed a Complaint Against Zipmex

BitDegree

BitDegree

Related Stories

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

by Maluh Bastos
February 3, 2023
0
7.3k

Klever K5 Wallet’s launch has been the buzz in the last few days. The new and improved Klever Wallet app...

Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

by Maluh Bastos
February 1, 2023
0
7.3k

The DeFi world is growing fast. Therefore, having a trustable and effective platform to navigate this universe can help users...

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Next Post
Thailand’s Financial Regulator Filed a Complaint Against Zipmex

Thailand’s Financial Regulator Filed a Complaint Against Zipmex

klever nft marketplace

KleverNFT Marketplace Dex launches

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8335 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version