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The authorities of South Korea took the first step to legalize ICO

Lawmakers are working on a regulatory framework.

03.May.18 5:24 AM
By Shawn Highstraw


The authorities of South Korea took the first step to legalize ICO
Interest in crypto-currencies and block-crap is shown today by residents of many countries. At the same time, not all countries already have a legal framework for regulating new markets. In a rather difficult position, it turned out to be the holding of primary offers of coins. Even if the authorities did not manage to ban this phenomenon, it is still difficult for him to exist on legal grounds in a number of countries.

So, in South Korea, lawmakers have just begun to develop appropriate standards. The Democratic Party was the initiator in this matter, and the government supported it. In the edition of The Korea Times, this step of the authorities was regarded as the first attempt to legalize the ICO in the state.

According to this bill, the initial proposals of research centers and public figures will be controlled by the Financial Services Commission and the Ministry of Science.

It is assumed that the adoption of the law will greatly simplify the life of the society interested in the development of the ICO sphere, since today all its possibilities are hampered by the uncertainty and absence of any regulation.

By the way, in South Korea for more than eight months there has been a ban on holding an ICO.

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