• Latest
South Korea to Decide on ICO Legality in November, Official Says

South Korea to Decide on ICO Legality in November, Official Says

October 11, 2018
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

South Korea to Decide on ICO Legality in November, Official Says

coinnewsdaily by coinnewsdaily
October 11, 2018
in Business
0
South Korea to Decide on ICO Legality in November, Official Says
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The South Korean government will make a decision in November on whether it will allow initial coin offerings (ICOs) again in the country, a top-level official has said.

Hong Nam-ki, head of the office for government policy coordination, told lawmakers during the National Assembly’s annual audit on government actions that regulators in the country have been reviewing the topic in recent months, as CoinDesk Korea reported on Thursday.

Hong added that the Financial Services Commission (FSC), South Korea’s markets watchdog, has been conducting surveys on ICOs since September.

“We are going to form the position of the government in November based on the results of the investigation at the end of October,” he went on to say.

Hong was responding to the question on ICO permission raised by Jeon Haecheol, a lawmaker from the ruling Democratic Party, who voiced support for lifting the current ICO ban.

Jeon said during the questioning:

“If we waste time, the blockchain industry could face huge difficulties. We need to look at very realistic and specific ways to nurture the blockchain industry, and I think permitting ICOs is one of them.”

That said, Choi Jong-gu, chairman of the FSC, voiced his concern again in a meeting today against the idea of allowing ICOs, according to a news report from Yonhap.

“Many people say ICOs should be allowed, but … uncertainty remains, and the damage is too serious and obvious,” he was quoted as saying.

In September 2017, the FSC notably issued a ban on domestic ICOs, following a similar move made by regulators in China. However, Hong said some crypto projects continued selling tokens to domestic residents by registering their businesses overseas.

In May, lawmakers from the National Assembly, the country’s legislative arm, pushed for the removal of the ICO ban. And last month, CoinDesk reported the FSC was investigating token sales projects with a questionnaire seeking information on extensive project details as part of its effort to review the ICO ban case.

Elsewhere in Hong’s remarks, he reiterated the government’s commitment to supporting blockchain development with a government budget of 34 billion won ($30 million) in the coming years.

Hong Nam-ki image courtesy to the Ministry of ICT

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
Tags: BusinessCryptoCrypto BusinessDigital Currency GroupHong Nam-kimedia outletOfficialSouth Korean government
Share76Tweet48
Previous Post

Nearly $1 Billion Stolen In Crypto Hacks So Far This Year: Research

Next Post

Crypto Defender Spars With Famed Critic During US Senate Hearing

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Crypto Defender Spars With Famed Critic During US Senate Hearing

Crypto Defender Spars With Famed Critic During US Senate Hearing

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$27,814.000.46%
  • ethereumEthereum(ETH)$1,755.86-0.34%
  • tetherTether(USDT)$1.00-0.50%
  • binancecoinBNB(BNB)$327.740.62%
  • rippleXRP(XRP)$0.457869-0.95%
  • cardanoCardano(ADA)$0.349566-2.47%
  • dogecoinDogecoin(DOGE)$0.073512-2.22%
  • matic-networkPolygon(MATIC)$1.08-0.54%
  • solanaSolana(SOL)$20.56-1.34%
  • polkadotPolkadot(DOT)$5.97-1.17%
  • litecoinLitecoin(LTC)$91.60-3.19%
  • shiba-inuShiba Inu(SHIB)$0.000011-0.98%
  • tronTRON(TRX)$0.064140-0.47%
  • daiDai(DAI)$1.00-0.21%
  • chainlinkChainlink(LINK)$7.15-0.75%
  • cosmosCosmos Hub(ATOM)$11.14-1.06%
  • leo-tokenLEO Token(LEO)$3.40-0.34%
  • moneroMonero(XMR)$161.87-2.66%
  • ethereum-classicEthereum Classic(ETC)$19.96-1.40%
  • okbOKB(OKB)$42.010.75%
  • stellarStellar(XLM)$0.0930690.29%
  • bitcoin-cashBitcoin Cash(BCH)$122.91-2.28%
  • filecoinFilecoin(FIL)$5.53-0.21%
  • crypto-com-chainCronos(CRO)$0.067768-2.39%
  • vechainVeChain(VET)$0.022502-2.07%
  • algorandAlgorand(ALGO)$0.206919-1.63%
  • internet-computerInternet Computer(ICP)$4.89-1.20%
  • eosEOS(EOS)$1.12-1.25%
  • elrond-erd-2MultiversX(EGLD)$42.23-0.81%
  • tezosTezos(XTZ)$1.12-0.80%
  • aaveAave(AAVE)$72.11-0.12%
  • theta-tokenTheta Network(THETA)$0.99-2.16%
  • neoNEO(NEO)$12.564.28%
  • paxos-standardPax Dollar(USDP)$1.00-0.66%
  • havvenSynthetix Network(SNX)$2.41-0.67%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.71-0.76%
  • bitcoin-cash-svBitcoin SV(BSV)$36.13-1.76%
  • dashDash(DASH)$57.37-4.44%
  • makerMaker(MKR)$664.08-1.05%
  • huobi-tokenHuobi(HT)$3.63-1.07%
  • iotaIOTA(MIOTA)$0.206821-1.51%
  • zilliqaZilliqa(ZIL)$0.027048-1.27%
  • zcashZcash(ZEC)$35.51-1.15%
  • basic-attention-tokenBasic Attention(BAT)$0.240286-1.94%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.038718-1.23%
  • qtumQtum(QTUM)$3.120.82%
  • kusamaKusama(KSM)$33.07-0.47%
  • compound-governance-tokenCompound(COMP)$41.49-2.79%
  • bitcoin-goldBitcoin Gold(BTG)$16.08-1.87%
  • yearn-financeyearn.finance(YFI)$8,312.02-0.71%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.79-1.66%
  • golemGolem(GLM)$0.235264-1.99%
  • wavesWaves(WAVES)$2.11-1.49%
  • ontologyOntology(ONT)$0.226071-0.39%
  • sushiSushi(SUSHI)$1.04-0.62%
  • digibyteDigiByte(DGB)$0.009564-0.77%
  • umaUMA(UMA)$2.072.03%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%