The ban on initial coin offerings in South Korea will stay, the country’s financial regulator has said in a statement. The decision by the South Korean Financial Services Commission (FSC) follows a survey which the regulator commissioned. Among the findings of the survey include the fact that some ICO projects misrepresented themselves. For instance, some had claimed to be fundraising abroad but they went on to involve South Koreans. Dirty Tricks Employed to Evade ICO Ban According to the FSC, the projects did this by registering in Singapore in order to circumvent South Korea’s ICO ban. Some of the evidence
The deputy for innovative technologies at the Central Bank of Iran, Nasser Hakimi, has stated that Iran’s financial regulator will be reviewing the country’s blanket cryptocurrency ban. The central bank official also indicated that the country’s regulatory apparatus pertaining to virtual currencies is expected to be finalized by the end of September.
Iranian Central Bank Official Hints That Cryptocurrency Ban May Be Repealed During September
Whilst speaking at a conference on cryptocurrency and distributed ledger technology in Tehran on Sunday, Nasser Hakimi, the Central Bank of Iran’s deputy for innovative technologies, made statements inferred as indicating that the Iranian administration will likely repeal its blanket ban on cryptocurrencies during September.
South Korea’s legislative arm of government is pushing for the removal of the country’s ban on domestic initial coin offerings.