Let's talk about South Korea and ICOs.

[marcbitcoins]

Min Byung-Doo chairmen of Korea's National Policy Committee is persuading
the government to legalize ICOs.

He pointed out that ICO is a new trend in global market and the country should
go along with the new technology. He also mentioned the success of the ICOs of Telegram and Block.one.

Furthermore, he said the government, National assembly and Block chain association
should create a working group to check frauds and develop block chain industry.

National assembly is still waiting for the approval.

Why do I think this is a great move?

The fact that many countries in Asia are not making any promising move towards legalizing ICO, it's great to hear news like this favoring ICO legalization.

Let me know what you think will be the ramifications of this.

Reference article- https://www.ccn.com/regulation-for-legitimacy-south-korea-nears-ico-legalization/

There is no problem about this proposal to legalized ICO in this country as long as they will regulate it well to ensure that only legit ICO will explore in the country. This is the same with Japan and other countries in Asia that ICOs are welcome as long as they will comply with the regulation so hopefully that the government of S.Korea will approve this proposal as this will favor the crypto currencies performance.

[Vit83]

IMHO new pump cycle will be on the news from China. If they will allow ICO this will send crypto to the moon. Korea already has big volumes in crypto.

[sana54210]

the problems of ICO are , 99% are scam from start

Well, like you said, that is a problem, but the fact is that for every problem, there is always a solution. So in the large essence, the solution of not being a victim of scam by doing due diligence is actually in everyone's hand and as long as we start getting to see smart investors coming out to know what to invest in, what is scam or not, then, the more the scammers will tend to start shivering out, knowing there is actually no space for them anymore in this ecosystem but as long as there are still some gullible investors, they will always get to find a way to be in. However, I believe with regulation in most of the countries, when it comes to ICOs, a lot would change.

This is great because the south korean market is already huge, it seems as if any coin that spreads in to the south korean market pumps greatly. If they can embrace ICOs to an even greater scale from a regulatory point of view then things should improve further. Hopefully more than anything it can act as a guideline for other countries to begin to take a more favourable view to ICOs and cryptos as a whole.

Yeah, it is obvious that the fact that this is a huge market on its own, the fact that the government coming to legalize the ICO space can really be a good start. Apparently, the chairman of the National Policy Committee must have seen the benefits that abound for the country if this is allowed and regulated on a large scale which is what I believe the ICO space actually needs now at the most.

Creating a working group to check frauds, and developing the blockchain industry which helps bring more innovation within the industry and help to increase the country economically is actually a very good one. Let's see if this is something that the government will listen to anyway, so we cannot say it is good news yet until it has been acted upon.

[omonuyak]

Of a truth governments should not completely abandoned blockchain technology as it makes life easy for humanity.  Many cryptocurrencies projects are there to help humanity and what South Korea is trying to do well help cryptocurrencies development.  Ico should be regulated because I know the concern of government is the scamming in it. 

[GregH37]

It does not seem to me that they are seeking legalization, but rather regulation. Legalize imply that an investment today in ICO is totally illegal and punishable with time in jail. What is happening today is a doubt about regulation and therefore is not allowed.

This is a legislative matter. ICO will gradually prove to be one of the best tools to raise values. Any country that does not regulate will be left behind. And South Korea is one of the countries where the population is more in love with Cryptos. Certainly very soon it will be 100% regulated and legal to invest in ICO.

I want to believe psychologically, the both go hand in hand. For what it is worth, a government will not be regulating something that is considered illegal. As long as they recognize it to be something and are willing to accept it is one of the reasons why they will want to be regulating it in the first place and as far as I am concerned, that make it considerably legal.

Regulation is something this space actually needs since we will just keep having ignorant investors, but that might end up bringing some segregation anyway in the long run when it comes to investing in ICOs.

[peter0425]

Legalizations, regulations. As long as it will bring crypto/blockchain to the next level then why not? Japan and South Korea has been taking the torch and I do hope that this step will help the market grow. We all know that a lot of ICO projects are scams so legalizing them in way with proper regulation can at least put a stop to those who are using project to victimized unsuspecting people to give them their hard earn money. At least he stigma could be lessen to a certain extend and this could also set a precedence on how to deal with ICO and perhaps other nation will follow what South Korea has put into place.

[pumawolf]

Technology and economically very strong country. . It's not too brave about the South Korean crypts.

[Red-Apple]

Why do I think this is a great move?

there is still no move to be great or not great! it is only talks that are being reported by unreliable sources and news sites which are even less reliable!
besides most countries are moving towards banning ICOs because raising funds this way is illegal and also there has been a lot of scams through this way and lots of money laundering which they can not control so they will ban it.

[lagista]

Countries in Asia such as Korea might be one of the countries that are friendly to Crypto if South Korea really makes ico, so I think it can eliminate the countries in Europe that dominate ico in the entire forum at this time, because it proves that Asian countries are able to make ico potentially

[CryptoAssasin]

There could be a possibility why these person is seeking for ICO legalization is because he is planning to be a part of an ICO team or raise his own ICO. His intentions might help cryptocurrency to be legalized all over the world and make it regulated. Unfortunately, most ICOs already creates a scar or trust issues to the investors because of those scam projects. If South Korea will legalize ICO on their country, that will surely create a hype to cryptocurrency.

[5ensei]

The Korean market is huge, so if it was regulated properly then it would become a new powerhouse in Asia. At the moment Japan looks more crypto friendly, although not as much as the Philippines. ICON hasn't done well, but I think NEO is a better investment anyway

[Abeleez]

South Korea is a cutting edge Nation. It's one country that is open to economic ideas and Innovations and cryptocurrency is a welcome development as far as they are concerned. This is why they are a fast developing society.

[minairia3]

As far as I remember, Ico was banned in Korea, as in China. Legalization is very useful to reduce the number of fraudulent activities and increase their effectiveness and recoil. And the clones will not be created, which will reduce the number of shitcoins on the market.

In another point this will be regulated and that's not what other enthusiasts want but yes there will be watchers and guidelines to prevent the bad things. China will not I think as they will and might try to create their own digital economy that they can control. Maybe that's also one of the reason why they don't want crypto.

[rodskee]

Good news for all and good luck for sounth lorea for this legality of icos projects
Hope this can help for bitcoin price increase and hope this moves can protect the investors from the scammers

[95do]

it seems it will be hard for icx to recover