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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.

Published Sun, Oct 1 2017 11:30 AM CDT   |   Updated Tue, Nov 3 2020 11:54 AM CST

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.

South Korean gov bans raising money with cryptocurrency | TweakTown.com

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.

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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