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October 05, 2017, 11:32:08 AM |
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According to Forbes sources, Kim said the decision to ban ICOs was “rushed.” Kim also theorized that this hasty decision was caused by pressure from influential regulators and government agents. The fact that vaporous and scammy ICOs exist, probably expedited their decision to call for a ban.
Regardless of outcome, every time these countries rush to ban ICOs, Bitcoin suffers temporarily. The cryptocurrency market ecosystem functions in unison. Still, bitcoin and other cryptocurrencies have always manage to recover even when governments try to attack them.
It will be interesting to see if the South Korean Bitcoin and cryptocurrency community can come together to stop government regulators from interceding in the market. They seem to believe the ICO ban can be reversed.
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