This week, the government of South Korea officially decided to maintain its existing blanket ban on domestic initial coin offerings (ICO) in a move that could benefit other major crypto markets in Asia. On Friday, the virtual currency task force of the Office for Government Policy Coordination released a comprehensive report on the ICO industry. Local financial authorities stated that the government considers the ICO model to be a high-risk investment vehicle in many areas. As such, the government will continue to reinforce a ban on domestic crypto token sales. It’s Not Just Domestic ICOs, Foreign Crypto Firms Could be Why South Korea Had to Ban Crypto ICOs and Risk Losing Multi-Billion Dollar Opportunities by CCN
