This week, the government of South Korea officially decided to maintain its existing blanket ban on domestic initial coin offerings (ICO) in a move that could benefit other major crypto markets in Asia.

On Friday, the virtual currency task force of the Office for Government Policy Coordination released a comprehensive report on the ICO industry.

Local financial authorities stated that the government considers the ICO model to be a high-risk investment vehicle in many areas. As such, the government will continue to reinforce a ban on domestic crypto token sales.

It’s Not Just Domestic ICOs, Foreign Crypto Firms Could be in Trouble

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