Possible ICO ban in South Korea.

in #cryptocurrency7 years ago (edited)

  South Korea, potentially "forbidden" ICO got unregulated markets on Friday, as regulatory documents filed earlier this month, returned to most investors. Comments from the Financial Supervision Commission, published in the FN News local news release on September 3, hint at the fact that this year it will be prohibited to issue digital tokens. The commission also compares such activities with gambling. Its intervention in the market justifies possible illegal actions of its participants. While the amount of money or the price will not increase - difficult to intervene.

     South Korea has issued a strict warning regarding the conduct of ISO, while China announced its full prohibition. Such a negative outlook affected the market.


       Bitcoin lost about 3.7 percent in the 24 hours of Friday, marking $ 4,000 per bitcoin set after a few weeks. Already in December there will be more strict identification of virtual currency holders who will convert funds into cash. Banks will also watch for "unusual" cash flows. Transactions will only be confirmed after the identification of the bank, and it will also track the cash flow. This should facilitate tracking of funds and will be the basis for preventing money laundering, as suspicious transactions will report.

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