Bitcoin Forum

South Korea Is Reportedly Going to Remove the Ban on Initial Coin Offerings

According to Business Korea, the National Assembly has made a move to legalize the local use of initial coin offerings (ICOs). The official recommendation comes after a total ban on the financial technology in September last year. The country’s financial market’s lack of proper regulations has seen domestic businesses moving abroad.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/south-korea-to-remove-ban-on-initial-coin-offerings/

https://coinidol.com/upload/resize_cache/iblock/253/900_900_1/253b79ca80d4292ae58fcbacc8e68d41.jpg

Well, it's about time you did. I hope the rest of the countries will come to their senses after the official decision of South Korea.  We need to start with someone. It is unwise to resist the fact that in the future the world will win.

I hope that the legalization in South Korea of the process of issuing initial coins will occur simultaneously with the establishment of good rules for regulating this ICO process in order to make it more transparent, to exclude or at least reduce the risk of fraud on the part of the ICO teams and protect the rights of investors. Surely, after that, similar processes are activated in other countries. This is very necessary to restore the popularity of ICO, since this type of activity is very necessary.

This is very good news! I think that in the near future both top coins and tokens will grow in price. But at the same time it is necessary to identify fraudulent projects and bring their owners to jail.

A good news from the cuontry South Korea.  Its indeed needed as of now. This is more and more reuqired in the current era. Bitcoin and other crypto currrencies should be adapted and emerged along with their eco system to help their economic status grow to its next level and bring more employment to the citizens. The growth standard would  obviously be higher than they were earlier.  Each citizen's wealth would certainly boom up slowly

And not only has to exclude fraud optioned, but possible "error" key options, as it was in the well-known history. Intentional actions of ICO teams. Bear for their actions the possible punishment.

If there is no fraud, banning all ICO's completely is not an appropriate approach. This attitude of South Korea is very important in this sense and may be an example to other countries.

Well, I supposed the ban is temporary. Just the use of ICO became so popular and uncontrolled that the government simply couldn't catch those changes and create something to regulate it. Now they seem produced some kind of course which will control the phenomenon of ICO.

Yes, that is what is needed. We need a strict regulation for Initial Coin Offerings so that the scammers who are only using ICO as a front would be prevented. If there would be a proper application of ICOs then things like investors being scammed will be prevented. As much as we want the government to be out of the picture because they are dismissing the thought of decentralization, we are not yet ready for it because there is no consensus yet as to how are we going to approach the ICOs on our own if there is no governing body that would control it.