Bitcoin
Bitcoin (BTC)
$63,674.00 5.73149
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.68 7.12694
Ethereum price
BNB
BNB (BNB)
$577.94 7.03437
BNB price
Solana
Solana (SOL)
$156.88 7.31528
Solana price
XRP
XRP (XRP)
$0.5342520 0.50502
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 7.95255
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 22.32238
Pepe price
Bonk
Bonk (BONK)
$0.0000259 10.56457
Bonk price
Bitcoin
Bitcoin (BTC)
$63,674.00 5.73149
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.68 7.12694
Ethereum price
BNB
BNB (BNB)
$577.94 7.03437
BNB price
Solana
Solana (SOL)
$156.88 7.31528
Solana price
XRP
XRP (XRP)
$0.5342520 0.50502
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 7.95255
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 22.32238
Pepe price
Bonk
Bonk (BONK)
$0.0000259 10.56457
Bonk price
Bitcoin
Bitcoin (BTC)
$63,674.00 5.73149
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.68 7.12694
Ethereum price
BNB
BNB (BNB)
$577.94 7.03437
BNB price
Solana
Solana (SOL)
$156.88 7.31528
Solana price
XRP
XRP (XRP)
$0.5342520 0.50502
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 7.95255
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 22.32238
Pepe price
Bonk
Bonk (BONK)
$0.0000259 10.56457
Bonk price
Bitcoin
Bitcoin (BTC)
$63,674.00 5.73149
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.68 7.12694
Ethereum price
BNB
BNB (BNB)
$577.94 7.03437
BNB price
Solana
Solana (SOL)
$156.88 7.31528
Solana price
XRP
XRP (XRP)
$0.5342520 0.50502
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 7.95255
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 22.32238
Pepe price
Bonk
Bonk (BONK)
$0.0000259 10.56457
Bonk price

South Korean regulatory body gives security token guidelines

south-korean-regulatory-body-gives-security-token-guidelines
Edited by
News
South Korean regulatory body gives security token guidelines

Ahead of the proposed legalization of cryptocurrencies in Korea, the financial services commission (FSC) published rules on Jan. 6 that outline which digital assets will be regulated as securities in the country.

The guidelines stipulate that all blockchain-based tokens will be treated and regulated as securities provided they have inherent characteristics that fit them into the country’s capital market act. 

According to the FSC, assets that fall into this category of securities are assets used for staking to derive dividends. In contrast, assets like stablecoins that fall outside the above category will operate following the upcoming digital assets regulations. 

The FSC stated that cryptocurrency and other digital assets’ security-like financial assets will be assessed on a case-by-case basis and that the issuers and brokers, such as crypto exchanges, will be held accountable for doing such evaluations in accordance with the rules.

Meanwhile, the new guidelines support innovation and simultaneously ensure consumer protection. The first half of 2023 will be more of promotions and institutionalization through submitting the drafted guidelines for assessments. 

South Korea’s friendly disposition to crypto 

South Korea has been one of the countries with robust engagements in the crypto ecosystems. 

Recall that on Dec. 10, 2018, Yonhap, a local media outlet, reported that the South Korean government would be spending four billion Korean won to develop a blockchain-based virtual power plant. 

On Sept. 20, 2022, the South Korean watchdog, during a national assembly policy discussion on ICOs, highlighted the need for an internationally consistent crypto regulatory framework. 

Busan, South Korea, declared on Jan. 19, 2023, that it would build the world’s first decentralized digital commodity market by H2 2023, with all products tokenized and traded on the blockchain.

On Jan. 29, 2023, the Korea ministry of justice announced its plans to launch the ‘virtual currency tracking system’ to curb the menace of money laundering and recovery of crypto-related proceeds from crime.