Corporations Bypassing Korean ICO Regulations With Overseas Subsidiaries

An increasing number of corporations in South Korea are establishing cryptocurrency and blockchain subsidiaries abroad due to restrictive regulations. They are seeking opportunities in countries like Japan, Switzerland, Singapore, and Gibraltar. For example, the parent companies of the two most popular chat apps, Line’s Naver and Kakao Corp, have established crypto and blockchain subsidiaries in Japan. Hyundai BS&C, an affiliate of South Korean conglomerate Hyundai group, recently launched its ICO in Switzerland.

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