#CryptoCorner; #SouthKorea Reconsiders #ICOs, #Binance to Launch Public #Blockchain and #China Moving to Organize Blockchain Standards
#CryptoCorner; #SouthKorea Reconsiders #ICOs, #Binance to Launch Public #Blockchain and #China Moving to Organize Blockchain Standards
Point Roberts, WA, Delta BC – March 13, 2018 - 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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