South Korea Starts To Define Cryptocurrencies As Legislation Approaches
Join Our Telegram channel to stay up to date on breaking news coverage South Korea is on its remarkable journey concerning blockchain developments and legislation. On Monday, South Korea’s Financial Service Commission (FSC) noted that the blockchain-based tokens would be regulated as securities. This will only occur if the iterations of traditional securities, known as security tokens, have the corresponding qualifications laid out in the country’s capital market rules. South Korea's financial watchdog has issued guidelines on how security tokens would be regulated in the country under upcoming legislation.@iamsandali reportshttps://t.co/iw3erXFOcF — CoinDesk (@CoinDesk) February 6, 2023 The Capital Markets Act deems ‘securities’ as financial investment instruments where investors cannot make additional payments on top of the original investment. However, the FSC laid out some examples of digital assets most likely to be classified as securities...