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South Korean Financial Regulator Behind ICO Ban Steps Down


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”.



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