Bitcoin Forum

Has South Korea banned ICOs? What is implication on Crypto market ?

First where did you get this information? I only know China.

Many opportunities for other country's  and everything that is related to bitcoin will be ban at this country like Chine

I don't think so that South Korea has banned ICO. It's only China and no other nation that I know. If you have any reference for the news, please share it with us so that we can also come to know the truth. However, the effect of China's ICO ban had already shocked the market initially and the price was down to $3100 level just few weeks back.

But then it started recovering and we are standing at $4300 level within this short period of time. The positivity around bitcoin is high worldwide and hence market recovered very quickly. However, please keep in mind, that China did not ban bitcoin. They just banned the route of raising money through ICO.

I think that you are wrong with that, South Korea banning ico's and bitcoin was just a failed fud on this forum, a random guy tried to create a thread saying that south k was going to do it, but he was wrong, it was a lie. The only country that was about to ban bitcoin was china, and some countries from Europe, but i am not sure about it, maybe i am wrong too.
 

South korean already banned icos, and that gives an impact too the market just like a little correction that already happened before. as you can see the shout korean banned to the ico should be determined as another banned from the chinese too.

Yes, here is the official new: "South Korea bans all new cryptocurrency sales   South Korea bans all new cryptocurrency sales. South Korea's financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings. 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."

yes true south korea forbids ICO but its impact is not too significant because the country is nothing compared to china.
http://www.businessinsider.sg/ico-south-korea-bans-icos-2017-9/?r=US&IR=T

Correct, South Korea has already banned ICO. However, it doesn't mean that bitcoin would be dead again. And besides, Korean's is not much on ICO, perhaps only a small portion has invested on it. Unlike China, who is really on ICO, the banning of South Korea has no or little effect.


Maybe we have already seen the correction because the news is like 3-4 days ago. And as I have seen, it didn't put a significant dent on the market as compared to China news. I think we even got to $4500 as soon as the South Korean government made the official announcement. We don't have to worry anything. Correction is happening, but I don't think its because of the South Korean ICO banning. Maybe we have established a new mental barrier for trader, which is $4500.

It doesn't have implication on cryptocurrency market because you can see that the prices of cryptocurrencies in  different exchange or markets are still standing strong. Bitcoin is unstoppable and other cryptocurrencies are almost like that so we don't need to worry for the possible negative implication like what happened because of china.

Even if they do there will be zero change in the bitcoin market. In fact any news has zero effect on the market contrary to popular belief. Everything that the market depends on is the people using it and trading it. If people panic sell after buying into some FUD news then the market will obviously crash. But if they are resilient and question the reasons why such FUD is being spread they will know that the propaganda news shills have their own reasons and they will buy bitcoin when the price becomes low.

A ban on ICO is not what should happen but a regulation of ICOs should happen.

Exactly. There are no implications whatsoever in the cryptocurrency because South Korea is not a big fan of ICO. And a moved by their government does not make a negative news to the market unlike China. Bitcoin is evolving and the traders are matured that's why the news really comes without anyone noticing a price difference. So we don't need to stress ourselves with that news coming from South Korea. And if ever the impact is big, we can still rebound as what we have seen 2 weeks ago from the China announcement.

https://www.forbes.com/sites/elaineramirez/2017/10/03/south-korean-startups-are-preparing-for-war-against-ico-ban/#273ccb8d2868

Yes that is true, I have read some news before that South Korea is going to implement ban on ICOs too. But with the effect of it in the market is still not visible, maybe there will be no effect at all we have seen that the crypto people are now endured with what's going to happen after the fuds and ban of ICO on China. SK is one of the biggest transactors in crypto and I know there will be an impact.

I've heard a humor that ICO is banned in south korea my implcation is that's only a gossip  nothing true in thats kinds of new's,because there's no effect of implented that kind of law in south korea to the crypto world market,and i can  read in online internet that economics in korea  still blooming to the fullest and i think's one of the contributor of this success is the ICO campaign of bitcoin &trading investment  because korean people love in trading since from there generation.

South Korea did ban ICO's, but apparently people always expect a big crash when this happens, this time it was irrelevant because nobody really cares about ICO bans anymore, at least not when it comes to the bitcoin price.

https://bitcoinmagazine.com/articles/south-koreas-ico-ban-reaction-serious-concerns-over-cryptocurrency-investment-practices/

These are really non issues for bitcoiners. But even if you are speculating in the ICO game, you should worry not: No matter how much they ban ICO's, there will always be ways to buy ICO's somewhere else, and there will always be chances to make money if you are buying the right thing.

Unfortunately there is a lot of trash in the ICO space, but some projects are legitimate and add value, there's nothing wrong with investing on these.

this will happen in several countries, but people are still using them, it may for the moment the price will lower the price, but in the long run, I see the crypto as long-term investments, so it will always be a profit.  :)

South Korea has banned ICOs. If you google the south korea banned ICO you will get the results confirming OPs statement. [1] The reasons are same as many would have thought in the crypto world. Potential financial scams. Yes, the financial scam is potent and plausible reason for banning the ICO for banning ICO. Note that it is not that they have blocked the crypto currencies but the ICO. There are various examples are such fraudulent practices from the companies people employed to garner money and cheat the people.
Personally these kind of moves make clear statement about being responsible in your business.


[1] https://techcrunch.com/2017/09/28/south-korea-has-banned-icos/ (https://techcrunch.com/2017/09/28/south-korea-has-banned-icos/)

I haven't heard such news. I only knew that China banned bitcoin a few months ago, and somehow it affected bitcoin for a while and it also recovered after a few weeks. However, I think that South Korea is wise enough to follow what China did.

The ban of ICOs probably isn't going to directly affect Bitcoin, as their ban wasn't on Bitcoin itself. So probably not much of a change in Bitcoin if any.

As far as I know, this information is probably correct, Korea has banned ICO. The Korean government has issued a ban on ICO activities, raising funds by issuing cryptocurrency. The decision comes because of concerns over the possibility of financial fraud or possibly money laundering, I think so. After China declared ICO ban, Korea has done the same, I think the crypto market is only slightly affected, there is not much significant change. This is just my opinion