Last week, South Korean lawmakers were very clear in issuing the ban on all Initial Coverage Bids (ICOs). However, taking into account that the measure has not yet been implemented, multiple startups are expressing their disagreement.
In this way, numerous leaders of Blockchain companies operating in the country say that the ban has no legal basis. As reported in a Forbes article: "Local industry representatives based on the block chain argue that high ICOs are legally unfounded. Right now, business owners fear that excessive regulation will scare away national talent to more welcoming jurisdictions like Switzerland and Japan. " The members of the community remain very surprised, because although they knew that a negative announcement about the ICOs was on the way, they did not anticipate the implementation of a ban at its best.