Crypto Corner: South Korea Reconsiders ICOs, Binance to Launch Public Blockchain and China Moving to Organize Blockchain Standards
Point Roberts, WA and Delta, BC - March 13, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what’s driving the cryptocurrency markets with today’s edition of Crypto Corner.
Crypto Corner - March 13, 2018
By Samuel Mowers at Investorideas.com
South Korea Reconsiders ICOs, Binance to Launch Public Blockchain and China Moving to Organize Blockchain Standards
South Korea authorities may be planning to allow ICOs with proper regulations implemented, according to a piece in the Korea Times. This comes nearly six months after South Korea put a blanket ban on all ICO fundraising in September 2017.
The Korea Times, quoting an anonymous source:
"The financial authorities have been talking to the country's tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met."
Hong Kong-based Binance, one of the largest cryptocurrency exchanges in the world, has announced the launch of a "tailored" public blockchain called Binance Chain in a recent blog post.
"As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community."
According to a press release yesterday, the Chinese government is looking to speedily organize a blockchain standard system. China is also one of 31 members of the International Organization for Standardization (ISO/TC 307), which may be surprising considering the country's outlawing of ICOs and phasing out of cryptocurrency exchanges.
A rough translation of the press release states:
"In order to promote the formation of a complete blockchain standard system as soon as possible, and do a good job in ISO/TC 307 technology, the Department of Information Technology and Software Services Industry Division, China Electronics Standardization Institute, proposed the national blockchain and distributed billing technology standardization technology. The committee set up the program. In the next step, the Department of Information Technology and Software Services Division will actively promote related work, accelerate the establishment of the standardization committee, and better serve the development of the blockchain technology industry."
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