South Korea announced an extraordinary session in the National Assembly to discuss issues of regulation and promotion of the cryptocurrency industry, along with the guidelines the ICO to eventually cancel the ongoing ban.
As reported by CCN, a short session will be here with the relevant standing committees and legislators from parties across the political spectrum to “discuss the development of the industry the blockchain and cryptocurrencies and creating a manual initial proposals coin (ICO)”.
Legislators are slow to develop internal rules for the cryptocurrency sector that are expected to be presented during the session.
The legislators urged the Ministry of science and Ministry of information and communication technologies to prepare guidelines in relation to the ICO for the protection of investors. It is expected that future sessions will be discussed, requiring that the ICO allowed in South Korea, with the appropriate safeguards for the protection of investors.
As reported in may, the Special Committee of the National Assembly of the fourth industrial revolution, called on the government to allow the national ICO, accusing authorities of “neglect” after a radical ban on China’s example.