The Financial Services Commission of South Korea (FSC) has announced its refusal to lift the ban on conducting campaigns on initial coin offers (ICO) conducted by cryptocurrency projects. This is reported by CoinDesk.
Representatives of the regulator said that investments in ICO are “extremely risky” and called on the public to exercise extreme caution when investing in projects that offer tokens.
It is reported that the decision was taken on the basis of a survey conducted by the Financial Supervision Service of South Korea.
It's data show that some ICOs that were conducted outside South Korea illegally attracted funds from local investors.