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South Korea bans fundraising through cryptocurrencies

South Korea’s Financial Services Commission on Friday said it will ban initial coin offerings (ICOs), following the similar China's move.

Raising money through ICOs seem to be on the rise across the globe, but there are huge risk of financial scams, the regulator said.

South Korea’s financial regulator pointed to similar measures in the U.S. and China amid rising portion of global cryptocurrency trading.

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  • avatar-6077
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    The weight of the ban will depend on the severity of the consequences for the market - before that, South Korea was perceived as one of the strongholds after the measures taken in China. I assume that now investors will have to look for new opportunities, and a country that finally gives a "green light" to the market at the legislative level will become the leading player in the world.

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