Governments Attitude toward ICO

On the 19th, the National Assembly held a parliamentary audit of the Strategy and Finance Committee.

Deputy Prime Minister Kim Dong-yeon, who is also the Minister of Strategy and Finance, firmly declared his will to promote the blockchain.

Blockchain is forest, Cryptocurrency is tree

Amid disagreements over blockchains and cryptocurrencies, Deputy Prime Minister Kim Dong-yeon called the "blockchain as a forest, cryptocurrency as a tree" and expressed his position on the inseparable relationship between the blockchain and the cryptocurrency.

Hard to accept cryptocurrency as standard currency

"Although cryptocurrency is difficult to see as a currency, we are adjusting with Cabinet Office about the overall direction,". Deputy Prime Minister Kim, stated that they have been researching with foreign cases through business trips.

Review of prospect toward ICO.

Despite his premise of 'personal opinion,' Kim has expressed a positive attitude toward ICO(Initial Coin Offering), which is currently prohibited.

Hong Nam-ki, head of the Office for Government Policy Coordination, said, "We will set a government position in late November after a month-long survey held by the Financial Services Commission.

Government Will to Advance Blockchain

"The Korean government has also confirmed its will to improve blockchain technology," said Deputy Prime Minister Kim Dong-yeon, while the Seoul Metropolitan Government has set a clear goal of creating the "World Blockchain Capital, Seoul" after announcing its five-year plan.