South Korea's opposition party considers comprehensive crypto legalization bill to facilitate blockchain growth

BlockworksAug 12, 2019 ⋅ 1 min read

The Liberty Korea Party, the main opposition party in South Korea, is considering a proposal to better regulate various aspects of the cryptocurrency sector including exchanges, blockchain development, and initial coin offerings (ICOs). According to CoindeskKorea, a local cryptocurrency-focused publication operated by mainstream media outlet Hankyoreh, a proposal submitted to Hwang Kyo-ahn, the chairman of the Liberty Korea Party, explicitly described blockchain as a key part of the fourth industrial revolution amongst the likes of AI, content, and big data.

The bill described ways to facilitate the growth of cryptocurrency exchanges, security tokens, ICOs, and IEOs with the intent of strengthening the cryptocurrency industry as a part of a larger vision of supporting the fourth industrial revolution.

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