Why is South Korea Considering to Reverse It’s ICO Ban

South Korea’s ICO (initial coin offering) first came in the late September 2017 when its close neighbor China issued its own blanket ban on its initial coin ban few weeks before.

Its been nearly six months since its ban and its regulators are considering to allow ICOs to be raised under specific conditions.

Its first ICO initial coin ban first came to ultimately protect its investors but later reported that it could see Korean financial authorities to formulate a plan to allow ICOs for its domestic investors.

Korean Times, which is an another news outlet reported from anonymous source that there was a discussion between financial authorities who are preparing to allow ICOs are yet to be revealed.

“The financial authorities have been talking to the country’s tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met.”

FSC vice-chairman Yong-beom Kim hinted at backtracking from its statement from ICO banning, if only to allow institutional investors to take part in ICO fundraising while keeping it away from its “regular citizens” who are not informed from its technology (WTF?) and its complicity. He continued “However, today’s report suggest that the rules could be eased to allow both professional and local domestic investors to partake in ICOs as well.