South Korea’s Financial Services Commission has proposed rules that would bring stocks, bonds and funds into its token securities framework, treating them as regulated securities recorded on distributed ledgers rather than as a separate crypto-asset class. Retail investors would be limited to annual net purchases of 100 million won ($73,700) on each approved over-the-counter platform. Qualifying issuers could manage accounts for their own tokenized securities with at least 4 billion won in equity capital and specified compliance and technology staff. The framework is scheduled to begin when amendments to the Electronic Securities Act and Capital Markets Act take effect on Feb. 4, 2027, initially covering selected institutional and fractional products before a later expansion to publicly offered conventional securities.