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In South Korea, overseas cryptocurrency offerings skirt local clampdown

“Launched by DAYLI Financial Group, Icon is listed in Bithumb and Upbit, South Korea’s major cryptocurrency exchanges, and started trading on March 21” writes Midwest Communications Inc for Soon afterward, South Korea’s financial regulator made it difficult to trade cryptocurrencies anonymously, and trading volumes in digital money such as bitcoin promptly collapsed in what had been their busiest market.The blockchain association’s Kim said the ban on local ICOs would push more companies to pursue the overseas route.Kim Haw-joon, co-chief of the Korea Blockchain Association, predicted that local exchanges would begin handling more such foreign-issued cryptocurrencies as a way to reinvigorate cryptocurrency trading.Already, a dozen or so South Korean companies have done ICOs overseas.

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