[Platform] An Il-won Partner Attorney_What is the impact on the virtual asset market regarding the allowance of token securities issuance (STO)?

Veat’s An Il-oon Partner Attorney’s column was published on Platum on February 6, 2023, focusing on the ‘Regulatory Improvement Plan for Token Securities (Security Token) Issuance & Distribution Rules’ released by the Financial Services Commission.

Through this column, An Il-oon Partner Attorney presented professional opinions regarding the Financial Services Commission’s recent announcement.

An Il-oon Partner Attorney majored in computer science and served as Manager at Naver Corporation’s Search Development Center. He also conducted research and development on document ranking systems (search engine ranking systems) and distributed databases. Furthermore, he achieved 7th place (silver prize) in the Korean regional finals of the ACM-ICPC, a world-renowned coding skills competition for university students, and is also active as a lawyer mentor for the Ministry of Science and ICT’s ICT Startup Legal Counsel and as a member of the Korean Bar Association’s IT Blockchain Special Committee. Based on his in-depth understanding of legal issues related to IT companies and blockchain/virtual asset companies, he provides legal advice.

The original text can be checked through the link here. If you are a startup that is planning blockchain, token security issuance and distribution platform businesses, please feel free to contact Veat Law Firm at any time.

What the Financial Services Commission says about Token Securities and their distribution platforms
In summary, the Financial Services Commission’s announcement allows the issuance of distributed ledger recorded token securities, which are interpreted as ‘securities under the Capital Market Act,’ as a means of representing them in the real world, and also allows the establishment of exchanges (small-scale over-the-counter platforms) where distributed ledger recorded token securities can be traded.

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