Outh Korean Government to Decide on Cryptocurrency ICO Legalization in November


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A South Korean official has said that the government is likely to announce its official stance on cryptocurrency ICOs in November. This statement was made during a National Assembly audit on Wednesday.

According to The investor, Hong Nam-Ki, the chief of the Office for Government Policy Coordination, responding to a question raised on the government’s stance on ICOs said:

We have had several discussions (on ICOs). Once the survey results are in by end-October, we plan to finalize the government’s stance.

In September the FSS commenced a study among some companies that are conducting or in the process of issuing an ICO in the country despite the ban.

Although many people call for the government to allow initial coin offerings, there are still uncertainties related to such a move as well as the possibility of serious fallouts.

Although many people call for the government to allow initial coin offerings, there are still uncertainties related to such a move as well as the possibility of serious fallouts.