People familiar with the matter recently revealed that the Korea Securities and Futures Exchange (KRX) has applied for innovative financial services (financial regulatory sandbox) to the country’s Financial Commission to open a pilot market for the listing of new securities. KRX plans to complete preparations to open the token securities distribution market after receiving final approval from the Financial Services Commission.
South Korean officials said in this regard: "This is not an STO, but the opening of a pilot market where new securities can be listed. Once approved, market operating rules will be determined and development will continue. The goal is to open the market in the first half of next year." It is reported that even in the market After opening, actual trading of token securities is also expected to take some time. If we follow a similar process in the current stock market, it will take about six months from application to new listing. (CoinDesk)