The UK has introduced a new regulation that will allow the country’s financial regulator to run a Digital Securities Sandbox (DSS), allowing companies to test new solutions and products under regulatory oversight. The new regulations, which will come into effect on January 8, will enable the Financial Conduct Authority (FCA) and the central bank to operate DSS, and businesses will also test distributed ledger technology, which supports cryptography to digitize or tokenize traditional securities. (CoinDesk)

According to CoinDesk, the UK has introduced a new regulation that will enable the country's financial watchdogs to run a sandbox for tokenized securities. The regulation will take effect on January 8, allowing the Financial Conduct Authority (FCA) and the Bank of England to operate the Digital Securities Sandbox (DSS), which was announced earlier this year. This will enable businesses to test distributed ledger technology that powers crypto to digitize or tokenize traditional securities. Tokenization of real assets is gaining popularity among financial institutions worldwide, and UK regulators are working to determine the best way to regulate them. Companies participating in the DSS will be subject to modified rules in case current ones act as barriers, according to a document explaining the law. The regulators themselves will be able to test out things and make rule changes to accommodate developing technologies. The UK is not wasting time using its new powers under the recently passed Financial Services and Markets Act 2023 to establish how it wants to regulate the crypto sector. The DSS regulation is a by-product of the Act.

The U.S. Securities and Exchange Commission (SEC) recently dropped a bombshell on the crypto community, not that it’s a surprise to anyone following their historical skepticism towards digital currencies. In its latest move, the SEC issued an investor alert focusing on the inherent risks and volatility of crypto, an asset class the agency still believes ... source: https://www.cryptopolitan.com/sec-investor-alert-on-crypto-securities/

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)

Terraform Labs and its co-founder Do Kwon filed a motion with the court seeking to dismiss the U.S. SEC’s accusation that they participated in billions of dollars in securities fraud. Terraform Labs stated that the U.S. SEC has not proven that it issuance of securities and has not provided a reason for its issuance of unregistered securities. "After two years of investigation, at the end of the evidence collection period, the SEC heard more than 20 testimonies and exchanged more than 2 million pages of documents. and data, but it is clear that it still cannot prove any wrongdoing by the defendant.” (CoinDesk)

Odaily Planet Daily News Shinhan Investment Securities, KB Securities and NH Investment Securities have signed a business agreement on "forming an alliance of security token companies". The above three companies have each developed systems for issuing security tokens, and plan to establish joint infrastructure and verify distributed ledgers, jointly respond to token securities policies and establish industry standards, and improve securities issuance and distribution services to achieve cost efficiency and Economies of scale. (News1)

Odaily Planet Daily News Hankook Investment & Securities, a subsidiary of Korea Financial Holding Company, has completed the construction of the industry’s first token securities (ST) issuance infrastructure. Korea Investment and Securities announced that the token securities consulting agency "Korea Investment ST Friends" has developed the infrastructure to implement the processes required for the issuance and clearing of token securities and has completed a pilot issuance. It is reported that token securities are digital securities issued using distributed ledger technology. The rights to physical assets such as real estate, ships, aircraft, and artwork can be securitized and converted into "security digital assets" to realize scattered investments. (Decenter)

Odaily Planet Daily News Three large securities companies, Shinhan Investment Securities, KB Securities and NH Investment Securities, have formed the "Token Securities (ST) Security Token Alliance" and began to jointly build infrastructure. A securities industry official said: "Since the token securities market has not yet opened, dominant infrastructure is more important than anything else. If a joint network composed of large companies with significant dominance in the securities industry is established, it is very likely to become a market standard."

Odaily Planet Daily News Korean financial giant Mirae Asset Securities has reached a cooperation with Polygon Labs, and Polygon Labs will serve as the "technical advisor" of the Mirae Asset Security Token working group. The collaboration focuses on building the infrastructure for a tokenized securities platform, as well as the technology required to issue and distribute tokenized securities. It is reported that Mirae Asset Securities is a subsidiary of Mirae Asset Financial Group. As of June this year, the latter's asset management scale was US$565 billion. (Blockworks)