South Korea Bans All Initial Coin Offerings

[Shishir99]

I think implications of few rules and regulation is important.
It will be good for both government and community.
Nowadays i can see these type of banning news or news like these are not affecting anymore.
Because people are getting used to in this type of situation.

[1714549939]

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[1714549939]

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[1714549939]

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[max6575]

as different customs with the basics on ideals to gives as initials with the chance on occupying use of goods and the service, the decision might be of one as referring the point of objectives as the different answers with the customs of issues to work with the distinct with the one as best to match of aggregate preference on appealing business.

[XbladeX]

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?

I just wonder when they will ban etherum becouse 60m of eth was sold for 30 000 BTC:D so 77% is from coin creation by certain people.
IF they ban ICOs they should ban ETH why not ? But I see it trading on exchanges now ? Why ETH ICOs is better than other ICO ?
Just beacouse ETH ICO was older doesn't mean it is safer : ) .
They should not BAN ICO or ban all ICOs.

[Morguk]

I'm glad some of these places are banning ICO's. Some are complete trash and pure scams. It's bringing money in to the space but this ICO craze might blow up.

[Spoetnik]

was it expected by the markets that south korea bans ICOs?

It is very strange that such a big nation announces something like that and nothing happens to the price of cryptos...

why is that the case?

Were there any rumors regarding announcements like that or what is the reason for the missing massive price reactions?

WOW holy shit !

Do you seriously see nothing wrong with ICO's ?
Even if you were a noob and knew nothing about the historic ideology and history of crypto you would have to see some major problems with them. (especially when they are viewed with the full context of crypto)

Yet you *ALL* line up to act stupid and play dumb.
Or are you ?

I don't get it.. WTF is going on here ?
Are you all mentally ill and suffer from not being able to tell right from wrong or what ?

That is why i can't stand all of you.
You are a nation of dirty scum bags.
All of crypto is a sack of greedy pieces of shit that should go to jail.
I vote any douche who made or owned an ICO coin should be brought up on charges of fraud.

[ekoice]

We have to accept that most of ICOs today turn to be scam.They are just launched only to loot the money from public.The scam list has started to increase very high nowadays.

So,we could easily understand that each government has an important role in protecting its citizens from such scams.China has kicked the first goal in this matter by banning ICOs.Now,korea has decided just to follow china.

I think that the ban on ICOs would not be temporary and governments would not show interest in regulating ICOs as there seems to be no benefit for them in allowing ICOs.

[Kat_Slash]

All these ICO's scam user one way or other. A little bit of restriction will be healthy for community and world in general. Also peace of mind for crypt's future prospect to be used as mainstream source of transaction.

[Sharon520]

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?

I think South korea banned ICO is temporary as china did. After china's government perfect regulatory system, they will open the market again.  the drain of money is not  a  good thing for those contries  that banned ICO.
 

[Argoo]

I think that after implementing a number of measures aimed at reducing the risk in carrying out ICO and protecting investors' rights against possible fraud, the South Korean government will resume this activity on the initial issue of coins, but will make this process more regulated. Ultimately, the government does not make sense to ban the holding of an ICO for good. Moreover, such activities make a certain contribution to the development of the country's economy, and the issue of digital coins ultimately creates additional conveniences for the life of citizens.

[0t3p0t]

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?

Good job for the government of South Korea because they are protecting it's countrymen from possible scams. I know that move was just temporary for now because sooner or later they have to decide whether just to implement regulation on ICO's or maybe they will implement a total ban on ICO's forever. Just like China, or any other countries that has strong control in cryptocurrencies I know one day that they will realize the potential of these investments through regulating them. We can be safe if that happens and there would be no scammy ones who will try to cheat on investors worldwide. We need it for the safety of our investments because it is hard to earn money these days so for me it is okay to regulate ICO's and give them chance to prove they are legit.

[thepo1m]

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?

I just wonder when they will ban etherum becouse 60m of eth was sold for 30 000 BTC:D so 77% is from coin creation by certain people.
IF they ban ICOs they should ban ETH why not ? But I see it trading on exchanges now ? Why ETH ICOs is better than other ICO ?
Just beacouse ETH ICO was older doesn't mean it is safer : ) .
They should not BAN ICO or ban all ICOs.

They did not ban all ICO projects, but ban new projects using ICO means from raising fund from the market, I do agree with this because most of these ICOs look scamming in my opinion and especially that part of the world where scam is very high

[Konthol Ngaceng]

Now more and more countries are banned bitcoin and altcoin including ICO, I am saddened by this fact, should many countries that support ICO project because the presence of ICO can improve the economic prosperity nationally.

[jiapetz]

The ban is most likely temporary. Korea has a strong following. They probably need time to put in regulations.

[slaman29]

They did not ban all ICO projects, but ban new projects using ICO means from raising fund from the market, I do agree with this because most of these ICOs look scamming in my opinion and especially that part of the world where scam is very high

There we go, someone who reads the news item past the headline. They are no longer allowing ICOs to be conducted as a means of fundraising - fair enough. But they're not going to criminalize people just for having held ICOs or even buying tokens and coins during ICOs. But don't worry, the government is doing this for the good of people. Now all those people who ran ICOs will have to watch their work and deliver what they promised or they will be hounded.

[a6666aaassa]

I can not understand why they have to do this, ico just need to strengthen the regulation, not prohibit

[behindcrypto]

 because the trading of Bitcoin and other cryptocoins needs to be tightly controlled. Violators of the new ban will receive “stern penalties,” but no details of what those penalties will be have been provided. As ICOs increase in quantity and scale, they’ve attracted the attention of government regulators in various countries. Korean regulators may exact more measures to control cryptocurrencies after continuing to monitor the situation.

[greyeye]

another ban on another scam ICOs.
Its really tricky to regulate ICO, but I doubt people still stop putting money to it.

Looks like ICO from Korea would be no longer allowed for sure.

[wxa7115]

"Tightly controlled and monitored" basically describes the situation. They will %100 regulate ico markets and everyone will probably be forced (in law) to say what they are gonna do, what is their intention. It is good.

I do not see what good can come from this, if you think this is about protecting people that is a mistake this is about control, besides people need to do their due diligence and not to rely on someone else to do that job for them, if you do not care enough about your money then who is going to do it, your neighbor? Your friends? Make your due diligence and your chances of being scammed are going to be very low.

[Vohoanghiep]

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.

[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?

I just wonder when they will ban etherum becouse 60m of eth was sold for 30 000 BTC:D so 77% is from coin creation by certain people.
IF they ban ICOs they should ban ETH why not ? But I see it trading on exchanges now ? Why ETH ICOs is better than other ICO ?
Just beacouse ETH ICO was older doesn't mean it is safer : ) .
They should not BAN ICO or ban all ICOs.

While ETH had an ico, ETH is no longer an ico, it is now an established project that has become successful so it is very unlikely ETH is going to be banned, however I agree with the sentiment somewhat, coins should not have icos and people that believe in the project must earn their tokens through mining the same way that bitcoin did it, but it seems that model is not going to come back.