According to a report by Chosun, a leading mainstream news publication in South Korea, the South Korean government is planning to allow initial coin offerings (ICOs) in the near future, with strict regulations and policies in place.
ICO Will Not be Banned For All, Open For Institutional Investors
Chosun’s exclusive report revealed that the South Korean Ministry of Strategy and Finance, Financial Services Commission, Ministry of Justice, Fair Trade Commission, and Financial Supervisory Commission, have formed a task force that will focus on drafting various regulatory frameworks for businesses and investors in the cryptocurrency industry.
Specifically, the task force will actively investigate into the possibility of taxing bitcoin investors, imposing stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, and allowing institutional investors to participate in ICOs.
Read more: https://www.cryptocoinsnews.com/south-korean-government-allow-institutional-investors-participate-icos/amp/