Jeju Island To Allow ICOs and JejuCoin Issuance

Asia Blockchain Review
August 8, 2018

According to AjooGyungjeh (Very Economics) in July 2018, the governor of Jeju, the large southern Korean island, announced his commitment to issuing ICOs and Jeju coin, Jeju’s own cryptocurrency. The government has already established a department that dedicated to blockchain which has been promoting digital innovation.

South Korea’s National Assembly, national legislature has officially proposed to allow domestic initial coin offerings (ICOs) in May, 2017, but currently there are no official laws for companies when issuing ICOs in Korea. However the Jeju government was exercising its power as a self-governing province to legally allow ICOs. Governor Heeryong Won also planned to revise the Jeju Special Law aimed to unable to designate a regulated sandbox zone for the Jeju island.

“We plan to focus on the areas of technological innovation, R & D for start-ups, and regulatory innovation where full-scale start-up investment activities are guaranteed,” the governor stated.

Specifically, he also mentioned coin issuing in Jeju, which would bring more benefits for the island citizens. He hoped Jeju will become a global blockchain hub through the creation of a fourth industrial revolution fund with the 200 billion won valuation (about $200 million).

Related Article
UK, US Top List of Most Crypto Exchanges by Country followed by Hong Kong and Singapore
Blockchain analytics platform Crystal has revealed a breakdown of the countries with the most regist...

September 22, 2019

TechNode’s Tech After Hours to Discuss Libra, China’s CBDC
Technode is organizing another Tech After Hours discussion on September 25th. This time, it will cov...

September 22, 2019

Five Privacy Coins to be Delisted at OKEx South Korea
The South Korean branch of OKEx has announced it will be delisting privacy coins including Dash and ...

September 21, 2019

Crypto Ranker CoinGecko Upgrades to Trust Score 2.0
Coin exchange ranker, CoinGecko, has upgraded its Trust Score system in a bid to provide the crypto ...

September 21, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us