Legal ICO and IEO in new Korean Econ Policy Proposal

Brian Newar 2019-09-23

As reported today in Seoul, the Liberal Party of Korea unveiled their new economic policy proposal for 2020 which calls for the legalization of IEO and ICO for each economic sector.

The new policy comes with 20 strategic tasks and 50 detailed tasks to focus on starting in 2020 when the new policy could be implemented if passed.

Liberal Korean Party Should Allow ICO and IEO — The Liberal Party of Korea calls for ICO and IEO legalization.

The policy proposal comes as party leads have come to realize that they need to make mobile apps and certificates accessible via blockchain. The reasoning behind utilizing blockchain is to prevent forgery and counterfeiting of the apps and certificates in question.

Party representatives stated that since cryptocurrency and blockchain are inseparable, they both should be regulated in tandem. Furthermore, they stated that legalizing ICO and IEO is the next obvious step towards the goal of preventing forgeries and counterfeiting.

Image result for liberal party of korea announcement

The same party earlier this year suggested being called the ‘Blockchain Party’ and opposed current government policy regarding blockchain and cryptocurrency. They went as far as to suggest recording government policy meeting minutes via blockchain and paying participating members in cryptos per their contributions to the policy and meetings.