South Korea Bans Initial Coin Offerings – Cryptocurrency Businesses May Be Next

ICO News, Investing, News, Regulation | September 30, 2017 By:

South Korea’s Financial Services Commission said Friday that it plans to ban initial coin offerings (ICOs), citing the need to control virtual currencies.

Domestic violators of the ban will be subject to undetermined “stern penalties.”  Reports did not indicate if the ban is immediate or will require established companies funded by ICOs to be unwound over time.