In South Korea want legalizirovat ICO


In South Korea want legalizirovat ICO

Min Boung-Doo, a member of the ruling party of South Korea and Chairman of national policy Committee, urged the government to legalize ICO and to improve the existing legislation for the local stock market.

He believes regulation is necessary and the only way to bring the market out of the shadows and increase the level of trust investors. In his speech he emphasized the importance of the integration of new technologies and recognition of global trends. As examples reflecting the increasing interest in this direction, Min Boung-Doo brought Telegram ICO and EOS. Stating that the government should not ignore the IPO, and to allow their conduct, showing their responsibility and ability to keep up with the times.

Earlier, the authorities prevented the ICO, the largest Korean Internet conglomerate Kakao, which owns 80% of the local market, and Bithumb, the second largest crypto currency exchange of the country. At the moment a decision is expected regarding the first legislation in the field of cryptocurrency and blockchain. If approved, the companies working in this area, and operations with digital assets, will receive legal status. So far, the government has refused to classify cryptomnesia as a venture capital firm because it will deprive them of benefits.

Another Asian tiger, Singapore seems to have created the most favorable conditions for startups, beating the USA by a number of ICO.

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