Token Securities Bill Fails Review Again… "Will Be Addressed in August"

The review of the Token Securities (STO, Security Token Offering) bill at the National Assembly's Political Affairs Committee has reportedly failed once again.

According to industry sources on the 28th (Korean time), the recently held 427th National Assembly (extraordinary session) 1st bill review subcommittee reviewed bills up to number 11 out of a total of 36, and the remaining bills were postponed due to time constraints.

Among the bills currently pending in the National Assembly's Political Affairs Committee to institutionalize token securities are partial amendments to the Financial Investment Services and Capital Markets Act (Capital Markets Act), proposed by lawmakers Min Byung-deok, Kim Jae-seop and others, as well as partial amendments to the Act on Electronic Registration of Stocks and Bonds (Electronic Securities Act).

In this review, token securities-related bills were allocated to the later order, from numbers 29 to 35.

However, there is talk that additional review in August may proceed for the token securities bills. The token securities bill is one of the few bills with little disagreement between the ruling and opposition parties.

Min Byung-deok, a member of the Democratic Party of Korea, said at the 'Economy is Democratic Party' event held after the bill subcommittee, "The token securities bills will be addressed in August."