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Author Topic: Korean Government Formally Proposes Lifting the ICO Ban  (Read 116 times)
Eternu
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July 04, 2018, 09:22:02 PM
 #21

Suppose a car is manufactured with all it's features except the breaks.  Many people will still be saves provided they do not find any traffic in their way.  Or  in other words they are so lucky that they are still safe and reach their destination.
In the same way I think without some regulations; scammers will always be able to cheat others.  There should be some one who is keeping eye on their activities.  Though their powers should be limited.  With unlimited or more powers they may become dictators.
Rules and regulations need to be formed at international levels because ICOs have international reach.  World Bank may be the rule maker in this case.  Or any other new regulatory agency may be formed under whose guidance all the countries are working in this field. 
Crypto currency is the currency for the future; so entire world should help develop it and remove hurdles from it's way.

we don't need regulations to prevent scams. this is a decentralized world with decentralized rules and we as a part of this decentralized system, should be able to prevent scams from happening by having more educated people who use their brains instead of their greedy emotions.

but when that clearly doesn't happen and we still have idiot newbies who continue to give away their money to ICO scammers then we need some external force to come in and clean it up for us. which is sad to be honest because it shows how the altcoin market has failed.
Before, I thought that regulations are something that could potentially be good for crypto world, and also inevitable. But now after reading what you wrote, and after some thinking I guess you could be right.
There are a lot of scammers in real life, I mean outside the crypto world. Most of people learned how to stay away from things like that, but I guess there will always be those who will not/ could not learn how to secure their investment (money). At the end, people learn best on their own mistakes.
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Chacon994
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July 04, 2018, 09:25:50 PM
 #22

ICO is full of risk. Not every project can be successful. Only a few projects can be successful. This requires people to judge. This is also the reason why many countries ban ICOs. There are no authorit

And why are you telling us such an obvious things? Everybody know that  Angry

well hence why the lifting of such a ban is a double edged sword without strict regulation and not essentially good news long term for crypto
I agree with your opinion. Many of the popular coins in the crypto market are created by ICO projects. Even ETH has raised funds by ICO
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July 04, 2018, 09:31:28 PM
 #23

This is big news.
But when it comes to the ICO scams and the future of the project, it all comes down to us, the investors.
Don't get me wrong, but if you are not doing your proper research and have a certain understanding of blockchain ( its fundamentals and ideas behind it ) then, of course, the investment will fail. You need to understand the story, idea, project and how it will work. Also there are certain websites ( I will mention NONE ) that can provide us with certain risk analysis and predictions. Fundamentally, remember, ICOs are a risk, but if you do your due diligence, all will be safe and sound.
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July 04, 2018, 10:25:01 PM
 #24

Not all ico's are good...we see a dozen of stupide ico's every day and just 10% or less will succeed...the best thing to do i think is to Reduce the number of ico's by Increased acceptance requirements
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July 08, 2018, 04:39:53 PM
 #25

In September, 1977, the government announced a ban on the ICO, claiming that Cryptocurency was not money, money or financial products.
However, the authorities have not yet implemented the ICO rules and have not forced companies to repay the ICO. It also continues to allow domestic investors to put money into foreign ICOs and digital currency transactions operating in the country.
Kang Young Soo, director of secret trading policies at the Financial Services Commission (FSC), said the country's top financial regulator has yet to decide whether to allow ICOs in Korea. for domestic investors and companies.
"There is a lot of speculation about the possibility of allowing ICO. FSC has acknowledged third-party views on this issue, but nothing can say officially at the moment, "Kang said.
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