Seoul weighs letting crypto exchanges trade token securities as Bithumb fights regulators in court

South Korea’s Financial Services Commission (FSC) has said it would look into letting crypto exchanges trade token securities. Meanwhile, the FSC’s anti-money-laundering arm defended a six-month penalty against Bithumb in court, and the central bank has set out plans to widen cross-border balance reporting. Will crypto exchanges start trading token securities? FSC Chairman Lee Eog-weon told a National Assembly Political Affairs Committee audit that he was open to the idea of allowing token securities be traded through crypto exchange infrastructure. Rep. Lee Kang-il of the ruling Democratic Party argued that restricting certain exchange types from the market makes little sense when the same securities rules and investor-protection requirements apply across the board. Lee said he would take things like market conditions and investor protection into consideration.

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