South Korea Will Keep ICO Ban, Says Financial Services Commission (cointelegraph.com)
South Korea will continue to ban initial coin offerings in the country, state financial regulator the Financial Services Commission confirmed in a press release Jan. 30.
Unveiling the results of a survey undertaken from September 2018, the body said it had discovered that firms conducting ICOs were making use of foreign jurisdictions, but still raising funds from South Korean nationals.
South Korea formally banned ICOs in September 2017, citing lack of stability and ease of manipulation as cause to stop citizens from buying cryptocurrency tokens.
The survey also revealed that Singapore and Switzerland were the most popular places to host an ICO among those companies that responded to the FSC. A total of 22 firms received the survey, but only 13 responded, states the press release.
As Cointelegraph recently reported, many tokens are now trading well below their original ICO sale price.
Original article reduced by: 39%
Read the full story here.
Related story: ERC-20 Wrapped Bitcoin Launches On Ethereum Network (CryptoGlobe.com)
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