South Korea Bans All Initial Coin Offerings

[tundexijim]

I think they should find a way to regulate ICOs instead of outrightly banning it.

[wxa7115]

South Korea’s Financial Services Commission has announced that all initial coin offerings will be banned in the country. and said
"All kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored."

Source: https://news.bitcoin.com/south-korea-bans-initial-coin-offerings/

What do you think? Is this ban only temporary and after implementing regulation it they will change their decision or they will do what China did?

It is necessary for the economy of a country when it wants to grow and they want to control and control everything according to their will. They still allow Bitcoin to work, but Bitcoin must be tightly controlled by the central bank and government, which is a sign of a developed nation.

Controlling bitcoin tightly is not  sign of a developed country is the sign of a country that does not tolerate to not have something under their control but no matter what they do they are not going to be able to fully control bitcoin and that is thanks to the genius satoshi was and the measures he took in order to make bitcoin an incredible difficult project to shutdown.

[cbob1911]

Damn, another country?  What is it at so far?  U.S., S.K, China?  I think the trend of ICO's accepting donations as a way of funding the projects is going to increase drastically. 

[John Langut]

It's because they cannot control it. If they could have regulations they would be more likely to accept it. I don't think it's a matter of lack of knowledge or not having the technical knowhow. After awhile when bitcoin is more accepted they will come along.

[wxa7115]

Damn, another country?  What is it at so far?  U.S., S.K, China?  I think the trend of ICO's accepting donations as a way of funding the projects is going to increase drastically. 

It seems the age of icos is going to have to change to adapt to this new circumstances, I do not think it is the end, it is likely that icos are going to require to identify yourself if you want to invest in the ico, I have seen some icos doing that already, but even if those measures are in place there are many people that are not going to abide for them and are going to cheat and invest in the icos anyway.