The South Korean STO bill has passed the preliminary review in Congress, and the token securities circulation market may be welcomed in the first half of next year.

According to Mars Finance, South Korea's electronic securities law and capital market law amendments to institutionalize the issuance of Security Token Offerings (STO) have passed the legislative review committee of the National Assembly's administrative committee, laying the foundation for the opening of the STO circulation market in the first half of next year. The amendment aims to officially incorporate Blockchain Distributed Ledger technology into the electronic registration system, allowing issuers to register and manage Token securities based on distributed ledger technology as electronic securities; at the same time, it will bring small-scale OTC Trading platforms for investment contract securities and non-monetary trust income securities under regulation, providing a basis for the legitimate operation of fragmented investment exchanges. If the bill is finally passed at next month's plenary session of the National Assembly, the tokenization and circulation of various physical assets such as real estate, artworks, and music copyrights can take place within a regulatory framework.