South Korea first banned ICOs back in September 2017, saying that the practice of raising funds via the issuance of cryptocurrency tokens was “almost a gamble.” But according to Coin Telegraph, some companies are still successfully conducting ICOs through underhand means.

Korea’s government considered reallowing ICOs two months ago, amid plans to create its own “blockchain island” based in Jeju Island Resort. This came amid the potential creation of a legal framework for ICOs and possible protection measures for anyone pledging funds to them.

South Korea clearly believes in the value of new financial technologies. It has recently launched a six-month youth training programme that includes courses on blockchain and other FinTech applications. The announcement came after the news of the government’s plans to invest $4.4 billion in a number of areas of the domestic economy, including blockchain.