Korea to allow ICOs

Korea to allow ICOs

The financial authorities are preparing a plan to allow initial coin offerings (ICOs), digital token-based fundraising rounds, for domestic investors, to advance blockchain-based technologies.
It is being reported that measures, such as value-added and capital gains taxes on cryptocurrency trades and corporate taxes on exchanges, are being discussed. These measures would need to be adopted before the ICO ban, which has been in place since September 2017, could be reversed.

Personal note: from the outside it strongly appears as a strong lobbying of this ruling by Kakao Games, one of leading Korean Game Publishers, whom I met about a year ago in Germany.

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