The South Korean National Assembly is currently deliberating on a Security Tokenization Bill, with hopes of its approval post the presidential election.

BlockBeats News, June 1st, according to Yonhap News Agency, South Korean financial and political insiders revealed that the Tokenized Securities Act (amendments to the Capital Market Act and the Electronic Securities Act) currently under review in the South Korean National Assembly is highly likely to be passed after the South Korean presidential election.

South Korean presidential candidates Lee Jae-myung and Yoon Seok-youl have both promised in their campaigns to expedite the policy for tokenized securities legislation. The legalization of tokenized securities was agreed upon by both the ruling and opposition parties during the 21st National Assembly, but external factors such as a parliamentary deadlock prevented its passage.