South Korea - ICOs
South Korea's Financial Services Commission (FSC) issued a statement on 29 September announcing the ban on ICOs. Similar measures were introduced this month in China, which resulted in the fall of cryptanalyst courses.
Token offerings, the method of raising funds has recently become popular. FSC said it constitutes a capital market breach.
The ICO market has drawn regulators' attention in many countries, mainly due to the similarity to the public issue of shares and the scams of small investors.
On September 5, 2017, a group of Chinese financial market controllers instituted a ban on doing this sort of collection.
On 29 September, a South Korean FSC regulator took a similar decision.
Also, on 29 September recommendations on the ICO were issued by the Australian ASIC office. The office said that the process would be treated differently depending on the structure of the offer.
After 5 September the price of bitcoin has fallen, but now returns to normal.
Picture: https://www.crowdfundinsider.com
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