Min Byung-deok: "STO Legislation Essential... Speed is Key"

Son Min

Summary

Min Byung-deok, a member of the Democratic Party of Korea, emphasized that establishing a legal framework for Security Token Offerings (STO) is essential, and particularly highlighted the importance of the speed of legislation.
He stated that to quickly preempt the virtual asset sector, the Token Securities Bill should be prioritized over the Basic Law on Digital Assets.
Min suggested addressing issues as they arise rather than considering all concerns, and expressed hope for establishing an effective token securities foundation through this seminar.

The establishment of a legal framework for Security Token Offerings (STO) is not optional but essential, according to recent claims. The emphasis is particularly on the speed of implementation.

On the 25th (local time), Min Byung-deok, a member of the Democratic Party of Korea, stated at the 'What is the Problem with Token Securities Legislation?' seminar held at the 3rd Seminar Room of the National Assembly Members' Office Building in Yeouido, Seoul, that "establishing a legal framework for STO is not optional but essential," and "the virtual asset sector must be quickly preempted."

He particularly emphasized the importance of legislative speed. Min stated, "The law that needs to be processed more urgently than the Basic Law on Digital Assets is the Token Securities Bill," and "if problems arise later, they should be addressed as they come." Given the nature of virtual assets, where new phenomena and technologies emerge daily, considering all concerns during the legislative process could only lead to a lag in global competitiveness.

He also expressed his expectations for the seminar. He said, "Through this seminar, I hope to hear voices from the field and analyze domestic and Japanese laws to establish a more effective token securities foundation."