Market Analysis Report (13 Mar 2018)

South Korea Preparing To Reverse Ban On ICOs

According to the Korea Times, the ban on ICOs may be revoked by the same financial authorities that banned ICOs last year. An anonymous source allegedly said that the financial authorities have been talking with the country’s tax agency, justice ministry and other relevant government departments to allow ICOs in Korea when certain conditions are met. However, there isn’t an official announcement that acknowledges the unban of ICOs in Korea. A spokesperson from the South Korea Financial Services Commision stated:

There are many speculating about the possibility of allowing ICOs. The FSC has acknowledged a third-party view regarding the issue, but there’s nothing that we can say officially at the moment.”

Read more here.

Genesis Mining Hit With Cease-and-Desist Order

Due to a cease-and-desist order released on March 9, cloud mining service Genesis Mining has been told to stop operating in the state of South Carolina. Genesis Mining and Swiss Gold Global Inc were named in the order, which says that mining contracts sold to state residents are considered securities. In the order, it was alleged that Swiss Gold Global Inc acted as a broker-dealer for Genesis. The order reads:

“At all times relevant to this order, Respondent Genesis Mining continuously offered investment opportunities in Mining Contracts to South Carolina residents through its website. At no time relevant to the events stated herein was Respondent Swiss Gold Global registered with the Division as a broker-dealer, and no exemption from registration has been claimed by Respondent Swiss Gold Global.”

Read more here.

Binance Offers $250k For Information Leading To Hackers’ Arrest

Binance, a Hong Kong-based cryptocurrency exchange is offering the equivalent of $250,000 in cryptocurrencies for information that leads to the arrest of those responsible for an attack on its platform that took place last week. A post on the Binance blog reads:

“To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact.”

Read more here.

Leave a Reply