I went back to Korea’s January and March token-securities releases, both Korean-language. In January, the FSC planned three working groups: technology and infrastructure, issuance, and circulation. By the 4 March kick-off there were four — settlement had been added, alongside an explicit policy direction around on-chain payment.
That change is easy to miss in the broader regulatory rollout, but it changes how I read Korea’s design. Settlement was not part of the original three-track structure; it became a workstream before the framework takes effect on 4 February 2027.
The FSC had targeted July for the subordinate rules and guidelines. Nothing in the FSC newsroom as of today. That’s what I’m checking next.