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South Korea, Legalize ICOs Again?

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Last week, The Korea Times, a mainstream media founded by the country’s largest newspaper Hankook Ilbo, reported that sources within the government revealed the plans of local financial authorities to legalize initial coin offerings (ICOs) in the future.

“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,” an unnamed source told The Korea Times who asked to remain anonymous due to the sensitivity of the subject.

Most recently, Choi Jong-ku Financial Services Commission (FSC) chairman expressed his concerns towards domestic ICOs, citing high risks involved for investors within the cryptocurrency market.

In essence, the South Korean government is willing to allow companies to conduct ICOs as long as the token sales are registered with the government, which is similar to the viewpoint of the US Securities and Exchange Commission (SEC)

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