Media: the Prosecutor's office in Seoul began an investigation in relation to ICO-startups

Seoul Prosecutor's Office Investigates ICO Startups

The names of startups that have come to the attention of the authorities are not given in the article, but it is said that there may be several well-known projects among them.

The ICO was banned in South Korea in September last year, but it didn`t stop local startups from attracting funding. Since investors were not forbidden to participate in foreign ICO, Korean startups began to conduct campaigns in foreign jurisdictions. For example, ICON distributed its ICX tokens through Switzerland.

Earlier, the Korean Bithumb exchange, which is already involved in another investigation, announced its plans to issue its own token.

In March, it was reported that South Korea could lift the ban on the ICO, introducing strict regulation of this industry.