Following up on the other thread about governments loosening crypto stances, South Korea is expected to address changes to their stance on crypto during a special session of the National Assembly July 13-16. Many believe new regulations will again allow ICO’s.
Korean lawmakers racing to regulate crypto, ICO, blockchain
CCN had previously reported: https://www.ccn.com/south-korea-to-loosen-crypto-rules-in-cooperation-with-g20-directive/
The country’s National Assembly has presented a plan to allow for domestic ICOs, which have been banned. Hong Eui-rak, a representative from the country’s ruling Democratic Party, said legislators are developing a law to remove the ban.
The Ministry of Strategy and Finance is still negotiating with the National Tax Agency on a tax plan for cryptocurrencies, the trade official said, even though the plan has missed a June deadline.
Kim Byeoing-young, a Seoul based technology reporter, said improved adoption will emerge once people can use cryptocurrencies like regular currencies instead of as speculative investments. The journalist predicted that interest in cryptocurrencies will double.
This after recently classifying crypto exchanges as banks, giving them legal status in the country.
Check back with this thread for updates.
Korean lawmakers racing to regulate crypto, ICO, blockchain
CCN had previously reported: https://www.ccn.com/south-korea-to-loosen-crypto-rules-in-cooperation-with-g20-directive/
The country’s National Assembly has presented a plan to allow for domestic ICOs, which have been banned. Hong Eui-rak, a representative from the country’s ruling Democratic Party, said legislators are developing a law to remove the ban.
The Ministry of Strategy and Finance is still negotiating with the National Tax Agency on a tax plan for cryptocurrencies, the trade official said, even though the plan has missed a June deadline.
Kim Byeoing-young, a Seoul based technology reporter, said improved adoption will emerge once people can use cryptocurrencies like regular currencies instead of as speculative investments. The journalist predicted that interest in cryptocurrencies will double.
This after recently classifying crypto exchanges as banks, giving them legal status in the country.
Check back with this thread for updates.