According to Business Korea, the National Assembly has made a move to legalize the local use of initial coin offerings (ICOs). The official recommendation comes after a total ban on the financial technology in September last year. The country’s financial market’s lack of proper regulations has seen domestic businesses moving abroad.
This is a really great step taken by South Korea. Cryptocurrency is the way forward and is the future of financial transactions. Other countries should also follow South Korea and regulate cryptocurrency and the ICOs.