The Chairman of the Korean Financial Services (KFC), Choi-Jong-k, who was responsible for the 2018 ICO ban in Korea abruptly offered his resignation last week.
In the past, he has been very skeptical over cryptocurrencies, stating,
“[A] fever of speculative investment in cryptocurrencies is ongoing … however, cryptocurrencies are unable to play a role as a means of payment.”
He had been managing cryptocurrency proposals but decided to push for an ICO ban in South Korea in March 2018. He described speculative crypto investments as “irrational”.