South Korea’s Financial Regulator Capped STO Applicants at Two Without a Vote

South Korea’s Financial Services Commission limited the selection to two fractional-investment businesses in the security token offering sector.

The commission made the decision without a formal vote, according to the information reported.

It told the National Assembly that a vote had taken place in a written response.

The conflicting accounts have raised allegations that the commission misled lawmakers.

Fractional investment allows people to invest in parts of an asset, while STO refers to security token offerings.

The available information does not say what the commission or lawmakers will do next.