Home » Korea’s Jeju Island May Become an ICO Free Zone

Korea’s Jeju Island May Become an ICO Free Zone

South Korea's Jeju Island is looking to become a free zone for conducting Initial Coin Offerings (ICOs).
news - Korea's Jeju Island May Become an ICO Free Zone

South Korea’s Jeju Island is looking to become a free zone for conducting Initial Coin Offerings (ICOs) where projects that focus on innovation will be free to host ICOs as a way of fundraising.

Won Hee-ryong, the current governor of the Jeju province has proposed the plan in a meeting last week with lawmakers including Korea’s finance minister and central government officials.  If the plan is approved, crypto projects will conduct token sales in the self-governing province despite the domestic ICO ban. 

According to Won, Korea have to become “a leader rather than a consumer of this new global industry.” The governor is also seeking to form a task force with officials from both the central government and the Jeju province as well as industry experts, in a bid to advance his government’s support for blockchain development.

 

JOIN TO OUR TELEGRAM CHANNEL

ALL THE LATEST BREAKING NEWS ON TELEGRAM

Join to our Telegram channel HYIP.com to be always up-to-date with the latest news of the cryptocurrency space.

As a reminder, last fall, South Korea’s financial regulator has prohibited domestic companies and startups from participating in initial coin offerings (ICOs).

Have your say!

0 0

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Lost Password

Please enter your username or email address. You will receive a link to create a new password via email.

Sign Up

ajax-loader