The Financial Services Commission (FSC) has prioritized the creation of legislation for Tokenized Securities (STOs) and fractional investment platforms as a critical economic goal for 2023. To establish a formal STO framework, authorities are drafting a 'revision of the Capital Market Act and Electronic Securities Act.' In response, securities firms and banks are ramping up preparations to enter the STO market. The FSC's initiatives extend beyond blockchain-based securities issuance and circulation, as they also aim to formalize non-financial trust beneficiary securities currently operating under the regulation sandbox.