According to The Korea Times, South Korean financial authorities are discussing plans to re-introduce ICOs into the country.

Last September, the South Korean government banned ICOs, not trusting cryptocurrencies and their lack of regulation. However, this didn’t deter South Korean startups. Instead of running ICOs in their own country, they simply turned to foreign investments to get their startups running.

Now, this may no longer be necessary.

An anonymous source stated:

“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.”

Even with the ruling in September, little was actually done to limit ICOs in South Korea. Both foreign ICO investment and crypto trading continue to this day in the country. However, the lifting of the ban would open up even greater opportunity for South Korean investors and traders.

Although many in the crypto world are against regulations, implementing regulations may be the only way for the South Korean government to consider lifting the ban.