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.
Topic: Korean Government Formally Proposes Lifting the ICO Ban (Read 207 times)
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
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.
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.
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
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
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.
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.
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.
Korean has an excellent economy because of following the all hottest technologies. Because money is using new technology, i think.
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.
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.
Thank you, good news you brought us the problem
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.
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.
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
What you me to say is Most of the ico are scammers and only few from a thousand are legitimate that way become the ico investing is very risky.
This is the thing that governments want to prevent since many of their people becomes victim by this scammers and doesnt care about their victim
This is great news for the crypto community as this would help reduce the criticisms against cryptocurrencies. Again all these are also geared towards the legalization of the bitcoin and other potenttial altcoins such as ethereum, dash and litecoin as a mode of payment for transactions.
South Korea always support this market, I hope so in other countries. Especially China will support
i think this is a good newsfor the crypto community.
Its good for them to lift the ban and introduce a strict rules and regulations to any ico before conducting any... The team must be screened properly and confirmed...
I hope the regulation extends to include shitcoins. ICOs, shitcoins & High-Privacy ruined crypto's reputation.
Everyone tries to become rich by repeating the same ideas or scamming others, which is due to the negation of this technology.
Because of this news, everyone looks at the bitcoin look black pic, so I hope that the South Korean government will think again.
Everyone tries to become rich by repeating the same ideas or scamming others, which is due to the negation of this technology.
Because of this news, everyone looks at the bitcoin look black pic, so I hope that the South Korean government will think again.
ICOs can be beneficial at times or depending on how idealistic and real a project is. Yet there are many greedy people that abuse this kind of opportunity. I think letting projects provide good services can be a good idea but there should be regulations regarding their foundations as a company. Screenings are good way of determining a good project that would help cryptocurrency world develop more.
"can be" is very different from "is". a lot of things can be a lot of things but they aren't. ICOs are one of them. and since so far not even one ICO has been remotely good you can say that this lifting of the ban is the strangest thing that they could have done! in a world where everyone is banning ICOs and preventing them from scamming people taking a step back is like undoing all the things you have done so far.
I hope that will happen. But I just hope that ordinary people will not get too much in the process. At the same time, the number of projects will be lower, and only really good projects will exist.
ICOs can be beneficial at times or depending on how idealistic and real a project is. Yet there are many greedy people that abuse this kind of opportunity. I think letting projects provide good services can be a good idea but there should be regulations regarding their foundations as a company. Screenings are good way of determining a good project that would help cryptocurrency world develop more.
Regulation of crypto is inevitable. Time is needed for finding good solution, and until they find it things like this ban will happen. There are those kind of people who will always seek way to wash their dirty money, and some coins provide just that. Safe way of doing it, like we can see in OP. I believe that in time govenments will find a way to regulate crypto totally. But I just hope that common people will not suffer too much in the process. Also in time, number of projects will be lower, and only those which are really good will survive.
this is really a bad thing. ICOs are being banned all around the world and they were never exactly legal anywhere to raise funds like this and scam people out of their money!
we say it is a free market and all that but unfortunately the decentralization in case of ICOs have proven to fail miserably because people don't seem to grasp the illegality of these things and the damage that they are inflicting on the whole market. i say we need strict regulations with no mercy for ICOs.
we say it is a free market and all that but unfortunately the decentralization in case of ICOs have proven to fail miserably because people don't seem to grasp the illegality of these things and the damage that they are inflicting on the whole market. i say we need strict regulations with no mercy for ICOs.
This is very good news. I thank you for not being too lazy and have described everything in such detail.
Jump to: