The South Korean government has pooled the suggestions from blockchain producers on the initial coin offering (ICO). The government’s action triggered speculation that South Korea is preparing measures on whether it would permit ICO and to what extent the ICO would be made.

The Ministry of Science and ICT has collected proposals from Korean blockchain associations

The Korea Blockchain Industry Promotion Association and the Korean Open Blockchain Association Monday confirmed that they submitted their positions to the government.

The officials of these associations said they were not in a position to ask whether to allow ICO or not. An association executive noted, “We suggested that the government should set a clear direction in its policy.” “Without the clear-cut government policy, the industry could not do anything,” he added.

He and other executives said that the government’s wait-and-see attitude had sent a confusing signal to the industry.

They expect the government to make public the official policy this year.

Last September, the Financial Supervisory Service has surveyed the blockchain platforms which want to raise capital through ICOs.