On May 29, the government officials South Korea who plans to pursue the road to re-legalizing initial coin offerings (ICOs). The government ban ICO and enacted on September 2017, and according to Business Korea,National Assembly committee has decided to study the ‘Fourth Industrial Revolution’ and said it would seek to enhance the legal “basis” of cryptocurrency in the country and said during a meeting “We need to form a task force including private experts in order to improve transparency of cryptocurrency trading and establish a healthy trade order,”
“We will also establish a legal basis for crypto currency trading, including permission of ICO’s, through the National Assembly Standing Committee.”
This year in January the senior government ministers calls for the public’s fear resulted in pass protests, but public attention recently emerged to the threats of the total crypto currency. Seoul’s decision the ban ICO’s have to met the appreciable backlash when it became law.
Same month the outlawed unclaimed and multi-account trading burnt new regulations bearing the brunt of new regulations and norms, formalizing the interim period of the domestic cryptocurrency market.
“With the government failing to present any guidelines for ICOs, domestic blockchain companies are going to Singapore and Switzerland to do an ICO and pay unnecessary expenses,” Business Korea meanwhile described in their additional commentary.
“Investors are also exposed to the risks of crime impersonating ICOs of leading companies.”
In conference of this week, a researchers of blockchain approach to cryptocurrency and blockchain legalisation, and treating both phenomena as equally important, a blockchain researchers called public regulators to improve their approach to cryptocurrency.