South Korea's ICO Ban A Reaction to Serious Concerns Over Cryptocurrency Investment Practices

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The South Korean Financial Services Commission FSC has announced it will ban all forms of initial coin offerings ICOs. After a meeting to discuss virtual currency control, the vice-chairman of financial affairs, Kim Yong-bum, made this comment as part of an official statementWe expressed a serious concern that the recent inflow of funds into the nonproductive speculative direction is showing up. As a result, we believe that additional measures are inevitable in order to switch to productive i

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