South Korea should unfreeze initial coin offering (ICO) fundraising, this time in a fully regulated manner, Korean Democratic Party member Min Byung-Doo said as cited by Business Korea. Min and fellow party member Roh Woong-rae are behind a campaign that seeks to push the government into reversing the country’s ICO ban and introduce regulations that would foster the blockchain industry, which Roh called “a key sector of the Fourth Industrial Revolution.”
“The National Policy Committee is planning to draft a bill [on] ICOs and blockchain and hold a public hearing on it in November. We will urge the government to create a working group to be participated in by related associations and organizations to exchange information and solve problems,” Min stated at a forum supported by the Korea Blockchain Industry Association.
He went on to tell the audience:
“As blockchain and cryptocurrencies have merits and demerits, only confident governmen...
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