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Title : Crypto News: Cryptocurrency Speculators Watch Nervously as South Korea Bans ICOs
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Crypto News: Cryptocurrency Speculators Watch Nervously as South Korea Bans ICOs

The cryptocurrency market is having another rocky morning as South Korean authorities announced a ban on initial coin offerings (ICOs). While countries like the US and the UK have warned investors to exercise caution before becoming involved with such projects, China has completely banned the fundraising method, and Taiwan could be next.

Reuters reports:

The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored ...

“Stern penalties” will be issued on financial institutions and any parties involved in issuing of ICOs, the statement added, without elaborating further on the details of those penalties.

Full story at http://bit.ly/2wr9MjW

Source: https://gizmodo.com

 

 

 

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