Korea Blockchain Industry Promotion Association Seeks Central Bank Node Role in Tokenized Securities

The Korea Blockchain Industry Promotion Association (KBIPA) urged South Korea’s Financial Services Commission (FSC) to widen node access under proposed tokenized-securities rules, including for the Bank of Korea, to support simultaneous securities and cash settlement.

KBIPA proposed allowing settlement-asset issuers and clearing institutions to take part in node operations when needed. The change would make room for delivery-versus-payment settlement, in which securities and funds settle together.

The proposal would also let qualified third-party technology firms operate validation, consensus and query nodes. Existing participants would keep the authority to record securities information and the responsibility for managing the ledger.

KBIPA submitted nine main amendment proposals, 10 technical corrections and six additional suggestions for future legislation. It also called for clear procedures to change ledger operating standards. Under the proposal, tokenized securities could move to another compliant ledger if the current one no longer meets regulatory requirements, instead of being converted directly into ordinary electronic securities.