South Korean National Assembly Discusses ICO And Blockchain Island

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South Korean National Assembly Discusses ICO And Blockchain Island

Posted on August 20th, 2018 in Around the World,Blockchain News by Ryan Warner

Business Korea is reporting South Korean lawmakers are discussing the countrys ICO ban, and other topics.

South Korea's National Assembly meeting saw members of the Ministry of Science and Science and Information and Communications Technology amid interest in cryptocurrency and blockchain in Seoul.

Lawmakers are debating removing the countrys ICO ban, and discussing the creation of their own 'Blockchain Island'.

A “special zone for global blockchain and cryptocurrencies” is being looked at on Jeju Island mimicking Maltas move on crypto.

Business Korea writes “...Discussions to allow ICOs are expected to gain momentum along with preparations of investor protection measures and organization of a task force to establish order in cryptocurrency trading,” as well as “clarify the legal definition of cryptocurrencies” before taking further steps.