South Korea bans ICO

Following China, South Korea bans an initial coin offering campaigns; top coins fall
29 September 2017   3133

South Korean authorities will ban all types of initial coin offering (ICO) due to the risk of scam and fraud. This is reported by the ZdNet. 

The Financial Services Commission (FSC), the country's finance regulator representatives noted that the ICOs are a popular tool for raising funds by start-ups and individuals. However, at the same time, they carry the high risks of "financial bubbles", various market manipulations and do not promote the protection of investors' rights.

Also, state representatives say, ICO is often held for purely speculative purposes.

Separately, it is noted that FSC has not yet "institutionalized" the exchange of digital currencies. Currently, the agency is carefully examining the situation on the market in order to further improve the effectiveness of regulatory measures.

At the same time, there is still no clarity about the scope of the ban. So, according to News1, FSC "bans all types of ICO in Korea." At the same time, the JoongAng publication informs that the ban will concern only ICOs conducted by South Korean start-ups, and also refers to officials who claim that the restrictions do not apply to private investors.

Top cryptocurrencies price chart
Top cryptocurrencies price chart

As you can see from a charts above, market's reaction is quick as always. In top ten, only IOTA continues to grow.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   962

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”