Categories: ICO

South Korea to Announce Its ICO Stance in November, Top Official Says

Click here to view original web page at cointelegraph.com

South Korean government is “likely” to announce its official position on Initial Coin Offerings (ICOs) in November. A local business newspaper The Investor reported this on Thursday, Oct. 11, citing a “top official,” Hong Nam-ki.

As per the chief of the office for Government Policy Coordination Hong Nam-ki, South Korean officials have already held several discussions on ICOs. As soon as the results are in, the government will finalize and reveal its official stance, he said.

South Korea first banned ICOs back in September 2017, saying that the practice of raising funds via the issuance of cryptocurrency tokens was almost “a gamble.”

According to The Investor, Hong Nam-Ki has revealed that the government has held a survey, because some companies are still trying to conduct ICOs despite a country-wide ban. The results of the poll are expected to be ready by late October, the official has said.

Korea’s government considered reallowing ICOs in August 2018, amid plans to create its own “blockchain island” based in Jeju Island Resort. Back then, the South Korean National Assembly, along with the Ministry of Science and Information and Communications Technology discussed the potential legal framework for ICOs and possible investor protection measures.

As reported by Cointelegraph, South Korea has recently launched a six-month youth training programme that includes courses on blockchain and other technologies. The announcement came after the news of the government’s plans to invest $4.4 billion in a number of areas of the domestic economy, including blockchain.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: coin crypto cryptocurrency initial invest offering

Recent Posts

  • Bitcoin Business

Rumors CFTC Investigating Bitmex Amid Speculation of Market Manipulation

United States’ Commodities and Futures Trading Commission is apparently investigating Bitmex according to unnamed sources. Bloomberg says :“The months-long CFTC… Read More

4 hours ago
  • Bitcoin Business

Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies… Read More

4 hours ago
  • Bitcoin Business

Crypto Exchange BitMEX Under CFTC Investigation Over US Users: Bloomberg

The U.S. Commodity Futures Trading Commission (CFTC) is reportedly probing crypto exchange giant BitMex. | Source: YouTube/BitMEX The US Commodity… Read More

4 hours ago
  • Bitcoin Business

Pro-Bitcoin Ron Paul Agrees with Trump Over ‘Clueless’ Fed

Donald Trump has gained an unlikely ally in delivering criticism against the central bank. | Source: Getty Images/AFP/Shutterstock/AFP; Edited by… Read More

4 hours ago
  • Bitcoin Business

‘Tip Trump’ Meme Targets POTUS While BAT Cryptocurrency Soars 19%

The BAT cryptocurrency gained 19% after its integration onto a gamer streaming site. Meanwhile, a meme was born as Trump… Read More

4 hours ago
  • Bitcoin Business

China’s Blockchain Industry, 2019 – By Separating Crypto-Currencies from the Underlying Blockchain Technology, China’s Government Helped People Focus on Blockchain Solutions for Various Industries – ResearchAndMarkets.com

DUBLIN--( BUSINESS WIRE )--The "China Blockchain Industry" report has been added to ResearchAndMarkets.com's offering.This report provides a complete and detailed… Read More

4 hours ago

This website uses cookies. We use cookies to collect data about your interaction with our website. The main purpose of collecting information with these cookies is to improve your experience with our site. For more information we encourage you to read our privacy policy.

Read More