FSC to hold regular meeting Friday to review approval agenda for an STO OTC trading venue

YM Lee

Summary

The FSC said it will discuss the approval agenda for an STO OTC trading venue at its regular meeting this Friday.
The FSC said it has selected the NextTrade–MusicCow (NXT) consortium for preliminary approval review for an STO OTC trading venue.
The FSC said that if the agenda is finalized, Lucentblock will be excluded from the preliminary approval candidates for the STO OTC trading venue.

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South Korea’s Financial Services Commission (FSC) will hold its regular meeting at 10 a.m. this Friday to discuss an agenda item on approving an over-the-counter (OTC) trading venue for security token offerings (STOs).

On the 11th, the FSC said, “Due to the National Assembly’s Legislation and Judiciary Committee schedule, the regular meeting originally planned for 2 p.m. on the 11th has been postponed to 10 a.m. on the 13th.”

On the 7th, through the Securities and Futures Commission, the FSC selected the Consortium and the NextTrade–MusicCow (NXT) consortium as candidates for preliminary approval review for an STO OTC trading venue, and plans to review the agenda at Friday’s regular meeting.

If the agenda is finalized, startup Lucentblock, which has operated a fractional real-estate investment business through the regulatory sandbox since 2018, will be excluded from the preliminary approval candidates.