THELOGICALINDIAN - South Korea stood its arena on the amount of legalizing antecedent bread offerings ICOs reaffirming the ban that the country instituted aftermost fall
ICO Ban Stands
The Banking Services Commission (FSC) – South Korea’s top banking regulator — reaffirmed October 11 that the country will advance its position on antecedent bread offerings and accumulate them outlawed. South Korea banned ICOs aftermost September.
Speaking to a Parliamentary analysis meeting, the Commission’s Chairman Choi Jong-ku said that the banking babysitter still considers that there are a lot of uncertainties and alike abeyant fallouts associated with ICO legalization. “Although abounding bodies alarm for the government to acquiesce antecedent bread offerings, there are still uncertainties accompanying to such a move as able-bodied as the achievability of austere fallouts,” Choi said at the meeting.
Earlier this year, Bitcoinist reported that the National Assembly of South Korea has put alternating an official proposal to approve calm antecedent bread offerings. The FSC’s position, however, charcoal unfazed.
A Blockchain Haven Nevertheless
Regardless of the country’s civic clampdown on antecedent bread offerings, it has managed to authorize itself as a affable destination for blockchain-based technology. The country afresh allocated 1 trillion won (around $880 million) of its account for blockchain technology.
In September, the country’s civic postal account met with Goldman Sachs’ cryptocurrency analysis aggregation in adjustment to dive added into broadcast balance technologies and agenda assets.
What is more, beforehand in July, Bitcoinist reported that industry-specific analysis centers have started bustling up in South Korea with aims to accompany absolute analyses of the cryptocurrency bazaar altitude — hinting at added accomplish appear accumulation adoption.
The country alike went on to officially admit cryptocurrency exchanges as acknowledged entities, absolutely reaffirming their role in the bounded economy.
Do you anticipate South Korea will move to approve ICOs anytime soon? Don’t alternate to let us apperceive in the comments below!
Images address of Shutterstock, Bitcoinist archives.
