Han Dong-hoon, CEO of People's Power, said on the 28th, "The stage of discussing the pros and cons of 'permission or not' has passed. (Now) it is a matter of reality," he said, adding that he focused on institutionalization.
People's Power Representative Han Dong-hoon stated on the 28th, "The stage of discussing the pros and cons of 'permission or not' has passed. (Now) it is a matter of reality," and he emphasized institutionalization regarding STO. STO is a financial service that uses blockchain technology to issue real assets, such as real estate, art, and sound sources, in the form of tokens, allowing for partial investments.
At the STO Forum Breakfast Meeting held at the National Assembly on the morning of the 28th, Representative Han said, "What politics should do is to prepare thoroughly for unfair trade, user inconvenience, and users to be properly protected within the system and to come up with a system suitable for it."
Representative Han, who previously insisted on abolishing financial investment income tax and suspending taxation on virtual assets, has recently continued to focus on revitalizing the capital market.
Representative Han viewed token securities as a new bowl that can hold various foods according to their characteristics. He stated, "When we look at human history, we can see many historical experiences that led to the development of an industry and the entire society when we made new bowls."
A representative said, "The U.S. and Singapore have already announced STO guidelines for a while. Japan has already incorporated token securities into the system through the revision of the Financial Products Transaction Act in 2020."
He added, "The Republic of Korea is a manufacturing powerhouse. At a time when other existing powerhouses, such as semiconductors, automobiles, shipbuilding, smartphones, and Germany, are declining due to various policy failures for various reasons, it is very proud of themselves, but various bowls are needed to sell the food well and make good use of it." He continued, "Let's discuss which is a good idea (for STO development) and what kind of system should be created."
Assemblyman Kim Jae-seop, a member of the National Assembly's Political Affairs Committee and vice chairman of the Digital Party Committee, said, "With the Trump administration, discussions on digital assets as a whole are heating up and gaining momentum worldwide." Representative Kim previously proposed the "STO Institutionalization Package Act" (a partial amendment to the Capital Markets Act and the Electronic Securities Act).
