The Financial Services Commission of South Korea (FSC) announced its refusal to lift the ban on campaigns on initial offers of currencies (ICO) made by cryptocurrency projects. This writes CoinDesk.
The regulator's representatives said that the investments in ICO are "extremely risky" and asked the public to be very careful when investing in projects that offer tokens.
It is reported that the decision was made on the basis of a survey conducted by the Financial Supervision Service of South Korea.
Their data shows that some ICOs that were made outside of South Korea illegally attracted funds from local investors.
Recall that the ban on carrying out initial proposals for currencies in South Korea is valid as of September 2017.
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