Share this article
Korea's Jeju Island Seeks to Become ICO Hub Despite Domestic Ban
Korea's Jeju island is eyeing a plan to allow crypto projects to conduct initial coin offerings in the self-governing province despite a domestic ban.
By Wolfie Zhao
Updated Sep 13, 2021, 8:16 a.m. Published Aug 14, 2018, 6:45 a.m.
Make us preferred on Google
South Korea's Jeju island is seeking to become a free zone for initial coin offerings (ICOs) – a plan that, if approved, would allow crypto projects to conduct token sales in the self-governing province despite the country's tough stance on the issue.
As reported by Korean news outlet JoongAng Daily on Monday, the governor of Jeju province proposed the idea at a meeting last week with central government officials and lawmakers, including Korea's finance minister.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Governor Won Hee-ryong indicted that, through the proposal, he intends to make Jeju island a blockchain hub in which projects that focus on innovation will be free to host ICOs as a way to finance their companies and services.
The aim, according to Won, is "for Korea to become a leader rather than a consumer of this new global industry."
In addition, Won is also seeking to form a task force with officials from both Jeju province, the central government and industry experts in a bid to advance his government's support for blockchain development.
Designated as a self-governing province in the early 2000s, Jeju island has enjoyed a high level of administrative autonomy as part of South Korea's effort to boost economic and tourism development in the area.
The proposal comes at a time when Korea's central government has followed China's lead in announcing that unauthorized ICOs are deemed as illegal fundraising activities.
However, lawmakers in the country have already been discussing lifting the country's ICO ban, as previously reported by CoinDesk.
Jeju island image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Higit pang Para sa Iyo
Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus
Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
Ano ang dapat malaman:
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
Top Stories
