ICO is a form of capital call that is similar to an initial public offering (IPO). Other than that, instead of receiving a share, the investor will receive token.
Risks associated with ICO activities have raised concerns among many countries. In 2017, China issued an ICO ban and closed its domestic electronic money exchange. More recently, the Korean Attorney General proposed a bill banning all electronic money transactions.
I think his bid has been refuted by someone more powerful than him.
and if we can recall, the ban by Chinese was corrected in few weeks.
so crypto will come back on its feet.
It's just an opportunity for those who missed the train to fill their wallets.