| Log in
TMT

South Korea joins China in banning initial coin offerings

29 September, 2017

South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings.

The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.

It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Bitcoin falls further as Chinese exchange announces halt in trading

Bitcoin falls further as Chinese exchange announces halt in trading

Reuters 2 months ago
Chinese bitcoin exchange BTCChina said on Thursday that it would stop all...
RBI 'not comfortable' with bitcoin, evaluating cryptocurrencies

RBI ‘not comfortable’ with bitcoin, evaluating cryptocurrencies

Reuters 2 months ago
The Reserve Bank of India (RBI) has a group looking into cryptocurrencies as...
China bans initial coin offerings; prices slump

China bans initial coin offerings; prices slump

Reuters 3 months ago
China on Monday banned individuals and organizations from raising funds through...
No Comments

South Korea joins China in banning initial coin offerings

Powered by WordPress.com VIP