Korea Exchange Applies for Innovative Financial Service to Create a Pilot Market for New Securities - Latest cryptocurrency news

Korea Exchange Applies for Innovative Financial Service to Create a Pilot Market for New Securities

Korea Exchange (KRX) has applied for an innovative financial service to create a pilot market for new securities. This step is seen as a groundbreaking move in the financial world and signifies a revolution for the cryptocurrency sector.

The application made to the Financial Services Commission (FSC) on September 29 seeks approval to launch an exchange-traded market for tokenized securities. This step is in line with the FSC’s previously approved pilot plan, which aims to open up markets focusing on investment contract-based securities and non-monetary trust income-based securities.

Technology & Populer Science News: Newslinker.co

While the final decision of the Innovative Financial Services Review General Committee is awaited, KRX’s ambitious initiative could reshape market dynamics. If approved, investment contract-based securities and trust-preferred securities will be made available for distribution in the market.

After receiving approval from the Financial Services Commission, KRX is accelerating preparations for the distribution market of tokenized securities. The exchange plans to organize a comprehensive briefing session for businesses looking to issue tokenized securities or engage in over-the-counter trading in early next year.

KRX aims to enhance the sensitivity of KOSDAQ’s system by taking into account the reasonable level of disclosure obligations concerning the listing or trading of tokenized securities. Once regulatory approval is obtained, the finalization of market operation regulations and the opening of a potential market will take place in the first half of next year.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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