'Black Panther ' is Still Killing the Game on its Fifth Weekend
FIFA World Cup 2018 to have Video Assistant Referee Technology
Thibaut Courtois admits mistakes as Chelsea crash out
Marvel releases trailer and poster for 'Avengers: Infinity War'
Worker missing after explosion at Hood County chemical plant
New ICO guidance from Australia a welcome signpost for regulatory environment
30 September 2017, 03:54 | Ruben Stone
ASIC issues regulatory guidance on ICOs
Ethereum and bitcoin dropped after South Koreabanned domestic initial coin offerings and margin trading in cryptocurrencies.
The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.
Chief among the FSC's concerns are that upcoming ICO deals could be scams, which is also a worry of regulatory bodies around the world, and that the ICO market could become overheated.
Further measures against cryptocurrency could also be taken. The details of those penalties were not revealed, however.
China has followed the ICO ban with a country-wide ban of cryptocurrency exchanges; it's unclear whether South Korea plans to do anything similar.
But several regulatory bodies, including those in the U.S., China, Hong Kong, Singapore and Russian Federation, have recently warned that lack of regulations has turned ICOs into a playground for scammers.
American Athletes Mull Protests at Upcoming Winter Olympics The IOC said it was helping North Korea prepare its athletes for the Games and would cover costs of their equipment if needed. The two countries remain technically at war after their 1950-53 conflict ended with a truce and not a peace treaty.
"Given the close resemblance, in some respects, between ICOs/token-generating events and conventional financial-market transactions, one or more aspects of financial market law may already cover ICO campaigns according to their various models", the agency wrote.
ICOs have fueled a rapid ascent in the value of all cryptocurrencies, from about $17 billion at the start of the year to a record high of close to $180 billion at the beginning of September.
The crackdown by South Korean regulators is sure to hit the nation hard, as the Korean won was the No. 3 currency for bitcoin trading over the summer based on market capitalization, after the United States dollar and Japanese yen, the WSJ reports.
"At any sign of vulnerability, the first reaction would be a mass selloff in ether".
FINMA announced on Friday that it was looking into a number of ICOs for breaching "provisions on combating money laundering and terrorist financing" and other regulations. For now, the nation will continue to observe operations to see what other regulations can or should be implemented.
While some token sales will be classified under general Australian consumer law, ICOs offering financial products will be regulated under the country's Corporations Act. Their personal investment perspectives have no impact on editorial content.
Coroner gives update on Otto Warmbier case
North Korean officials maintain that he contracted botulism and slipped intothe coma after taking a sleeping pill. Fred Warmbier said his mouth "looked like someone had taken a pair of pliers and rearranged his bottom teeth".
Meghan Markle, Prince Harry take love public in Toronto
He went on to captain the first UK Invictus Games Team in London in 2014 and has won bronze in 200m at the 2016 Paralympics. They had both appeared at the opening ceremony at the weekend but sat apart and were not photographed together.
Porsche 911 GT2 RS
Lucky customers awarded a build slot can look forward to deliveries starting in early 2018. Porsche didn't just break the Nurburgring lap record - they absolutely crushed it.
Thousands of cows still in Bali volcano zone
Agung, about 45 miles to the northeast of the tourist hotspot of Kuta, is among more than 120 active volcanoes in Indonesia . Virgin Australia, which flies to Bali from Australia, said on Wednesday that it was expecting "some delays".
New information about the smartphone line of Pixel 2
Originally, we heard that both the Pixel 2 and Pixel 2 XL would get slimmed down bezels to match the competitive 2017 landscape. What Google is trying to imply is that time has come for Nexus 5X and Nexus 6P owners to start looking for a new smartphone.