[Delio] Delio Attends Korean National Assembly Seminar to Discuss the Security Token Offering System Establishment
Over the past years, South Korea has been seeing significant cryptocurrency market growth and constant digital assets value rise, indicating the establishment of cryptocurrencies across the nation.
Joining hands with the Korean government, Delio has played an important role in the local financial market development and cryptocurrency safety-related regulations.
Thus, last week, Delio attended the Korean National Assembly Seminar held in Seoul, South Korea, to discuss the importance of preoccupying the Security Token Offering (STO) industry in the future.
In the comprehensive discussion, James Jung, the CEO of Delio, emphasized the three key improvement measures to engross the local market. Giving an example of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), he mentioned the lack of a precise definition and distinction between the security and non-security tokens as well as a non-presence of the local industry’s authorities which may hinder innovations.
Moreover, James Jung noted the significance of establishing a decentralized STO platform, STO-related independent law, and independent agency while claiming that the recently proposed regulations are ineffective.
Among other participants, Joo Sung Um, a director of the Business strategy division at Kiwoon Securities, stated that by providing investment information that explains in detail the utility of content that is the basis of securitization tokens, securities companies could remove the stigma of cryptocurrencies as speculative assets.
Hee-gon Kim, a member of the People’s Strength National Assembly, mentioned that the STO would likely promote investment in venture companies while generating profits. “The size of the security token market has grown nearly six times over the past few years, making the industry one of the leading in investment.
Another member at the Seminar, Hye-Ryeon Baek, Chairman of the Political Affairs Committee, emphasized that regulations related to STO should be released under the principles of the Capital Market Act, which is based on trust based on investor protection and fair competition.
Meanwhile, Delio pays close attention to making efforts to legalize digital assets and revitalize the Korean cryptocurrency industry and strive for global industrial development by providing crypto-related services based on financial trends and customers’ needs.