South Korean Government to Decide on Cryptocurrency ICO Legalization in November

A South Korean official has said that the government is likely to announce its official stance on cryptocurrency ICOs in November. This statement was made during a National Assembly audit on Wednesday.

ICO Legalization: To be or Not to Be

According to The investor, Hong Nam-Ki, the chief of the Office for Government Policy Coordination, responding to a question raised on the government’s stance on ICOs said:

We have had several discussions (on ICOs). Once the survey results are in by end-October, we plan to finalize the government’s stance.

In September the FSS commenced a study among some companies that are conducting or in the process of issuing an ICO in the country despite the ban.

Various reports out of South Korea show a divide in government opinion in regards to Initial Coin Offerings.

Also speaking at the National Assembly audit meeting, Choi Jong-Ku, chairman of the Financial Services Commission (FSC) reiterated the initial ban on ICOs. The chairman stressed the…