Korea is going to cancel the ban on ICO

Korea’s Financial Services Commission is going to unban ICO but regulation cryptocurrencies
06 December 2017   2017

The vice-chairman of Korea’s Financial Services Commission, Kim Yong-beom confirmed the offisional plans to regulate bitcoin and cryptocurrencies and unbun ICO. Financial institute considers that this measures will be necessary to curtail money laundering and tax dodging. Also at the National Assembly today they have discussed a bill about a legal framework on cryptocurrencies.

The government doesn’t consider cryptocurrencies as money or financial products. We will regulate bitcoins to curtail money laundering and tax dodging.


Kim Yong-beom

vice chairman of Financial Services Commission

The ministry has also dismissed cryptocurrencies by claiming and he consider cryptocurrencies will not become the new gold or money in the future. Also they decided that the lack of government or institutional backing has relegated cryptocurrencies to merely become a source of speculation. And that could possibly harm citizens. Then the TF will review regulatory measures on trading of cryptocurrencies to prevent probable crimes.

California Court to Issue a Temporary Ban on Blockvest

SEC had found a lot of violations, including the "approval" of non-existed "Blockchain Exchange Commission"
15 February 2019   154

The Southern District of California Court, represented by Judge Gonzalo Kuriel, issued a preliminary ban against BlockOw ICO-startup Blockvest LLC and its founder Reginald Buddy Ringold (Rasul Abdul Rahim El), citing violations of securities laws in the past and possible violations in the future.

SEC Info
SEC Info

Court ruled that the BLV tokenail violated the norms of section 17 of the Securities Act of 1933, and recognized tokens as unregistered securities.

November last year, Judge Gonzalo Curiel refused to recognize the Blockvest project token as a security, because the SEC could not prove otherwise.