Bitcoin Falters as South Korea Follows China By Banning ICO. What do you think about this.
They're not banning Bitcoin but ICOs, the reason to this is they're making their own crypto currency and ICOs will make future sabotage according to them. To maintain a sovereign assets relies on their financial stability hence adapting an ICO or tolerating exchange for different Altcoins will cripple their own crypto.
they ban ICOs because of multiple different reasons and all the countries share these reasons.
one of them is the fact that initial coin offerings are a type of fund raising to get a very large amount of money for a (so called) company that is not registered or in other words exists illegally and is receiving a lot of money!
the other reason is obviously taxes! these so called companies do not pay taxes and government sees no easy way to tax them either.
there is also always money laundering too. you run a fake ICO, put your money in it. you'll get easy laundered money.
