The head of the committee in the parliament of South Korea called for the legalization of ICO

The chairman of the Korean Parliament’s National Policy Committee, Min Byun-doo, spoke in favor of lifting the ban on ICO, which has been in force since September last year. For a similar decision earlier, a number of Korean politicians have already spoken.

Over the past year, many representatives of the South Korean authorities publicly speak about the need to lift the ban on holding an ICO in the country, introduced in September 2017, with enviable regularity.

One of the latter was supported by the chairman of the National Policy Committee at the Parliament of Korea, Min Byun-doo. This body is the first instance to review all legislative initiatives.

He explained his position in detail in an interview with CoinDesk Korea on October 29. In response to the question of why the ICO in Korea should be resolved again, Min answered:

“There are some positive aspects of the legislation, which was adopted by the government over the past year. Many "bubbles" have burst, and people realized that this is not the market where they should hurry recklessly. "

The deputy also added that the adopted restrictions served as a means of preventing mistakes, and even if tomorrow all restrictions on ICO and trade in cryptoactive assets were removed, “people would have rushed to participate in it without careful analysis.” “I think the" vaccination "was successful, and now it's time to open the market," Min concluded.

Responding to a question about whether the position of the head of the parliamentary committee contributes to a change in national policy, Min said that he hopes that other parliamentarians will be included in this agenda.

Recall that in May, a group of deputies of the National Assembly came out with a bill on the legalization of tokensails. Then, in July, at a meeting of the Parliament devoted to the “Fourth Industrial Revolution”, a proposal was made to create a legal framework for cryptocurrency trading, “including lifting the ban on ICO”.

At the end of October, the head of the Special Committee of the National Assembly declared that the ban on ICO would be lifted “soon”, although the head of the financial regulator expressed a more conservative position. Shortly before this, a government spokesman said that officials were preparing to change the law in November.