Upbit Parent Dunamu Completes Technical Preparations for Stock Tokenization, South Korean Lawmaker Calls for Passage of Digital Asset Basic Act by Early Next Year

Odaily Report: At a digital asset policy conference in Seoul, Dunamu Vice Chairman Kim Hyoung-nyon, whose company is the parent of Upbit, said it is disheartening that stock tokens for shares of South Korean flagship companies Samsung Electronics and SK Hynix can only be traded overseas. He also formally announced that Dunamu has completed the technical preparations for stock tokenization and can launch related services at any time once the regulatory framework permits.

In addition, the conference also discussed the legislative progress of the Digital Asset Basic Act. Min Byung-deok, a lawmaker from South Korea's Democratic Party, argued that the bill should be passed during the current regular session of the National Assembly, no later than January 18 next year. Park Soo-min, a lawmaker from the People Power Party, said legislation should not be rushed and called for fully allowing institutions and corporations to invest in crypto assets. (Yonhap)