Like its neighbor across the Yellow Sea, South Korea is banning a blockchain-based funding method known as "initial coin offering," or ICO. Since the vast majority of ICOs take place on Ethereum, this qualifies as pretty terrible Ethereum news.

ETH prices may fall dramatically in response.

After all, the language of the ruling is horribly firm. The Financial Services Commission (FSC) said that token offerings are in “violation of the capital market law” and will henceforth be illegal “regardless of technical terminology.”

They also.

The post Daily Ethereum Price Forecast: Korean ICO Ban Expected to Pummel ETH Prices appeared first on Profit Confidential.

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Daily Ethereum Price Forecast: Korean ICO Ban Expected to Pummel ETH Prices