South Korea Proposes Permitting And Legalizing ICOs

South Korea which is considered to be the third most important Bitcoin market in the world, has been staying an uncertainty source in the scope of digital money. The government of the country banned initial coin offerings (ICOs) in September 2017 and since then has not been able to provide any clarity about the future of the cryptocurrency in the East Asian country. Meantime domestic companies have gathered to Singapore and Switzerland to outwit South Korean restrictions, while инвесторы все чаще подвергаются воздействию мошеннических самозванцев.South Korean investors were increasingly undergone to deceptive fraudsters.

Now the national Assembly of the East Asian country is trying to give some final answers by putting forward an official proposal to allow ICOs. According to Business Korea, the national Assembly recommends that the ICOs be legally allowed on conditions that provide protection for investors.

The proposal was put forth at the last general meeting of the Special Committee on the Fourth Industrial Revolution on May 28th.

The National Assembly’s Special Committee on the Fourth Industrial Revolution also found time to blame the South Korean administration for failing to do its duty in response to the development of blockchain applications, which should have been a main preference for its regulatory agencies and representatives.





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