France and the United States have indicated legalizing the initial coin offering (ICO), but the Korean government takes a wait-and-see attitude.
France would become the first G-7 country which would legalize the ICO. It completed legislation. Once the parliament passes the bill early next year, its ICO law would debut.
French Finance Minister Bruno Le Maire reportedly stated that he would make Paris the capital of the initial coin offering.
French President Emmanuel Macron also indicated the government’s strong support for the blockchain industry. President Macron has initiated the Paris Call for Trust and Stability in Cyberspace. South Korea’s Foreign Affairs Ministry, the Korea Open Blockchain Industry Association, Samsung Electronics, and the other six organizations and companies became signatories to President Macron’s initiative. The initiative is a global campaign to root out hackers and crimes in the cyberspace.
France hopes to make Paris the leading capital in the Fourth Industrial Revolution. By creating a blockchain ecology, France wants to upgrade the traditional industry and expand the tax base.
The U.S. Securities & Exchange Commission made it clear that it would subject the ICO to the current securities law.
The South Korean government has made it clear that it would follow the trend of other countries before formulating policies on cryptocurrencies, ICOs, and blockchain.
