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South Korean gov bans raising money with cryptocurrency

South Korea doesn't like ICOs, or cryptocurrency, or the future it seems
By: Anthony Garreffa | Cryptocurrency & Mining News | Posted: Oct 1, 2017 4:30 pm

While the rest of the world attempts to run full steam ahead with cryptocurrency, South Korea is moving with China on its ban against raising money with virtual currency.

 

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Reuters reports that South Korea isn't too keen on initial coin offering (ICO), even though it's a super-easy way of funding whatever the hell people are making/building/delivering. But, because it's not regulated, it can be used nefariously... scamming millions of dollars from investors.

 

The South Korean government was concerned over the growing number of ICOs, and have now said that anyone involved in ICOs will be hit with "stern penalties". Eek.

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