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These Moves Aimed At Reducing ICO Scams In South Korea Will Interest You

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ICO Scams In South Korea

One of the hard lessons crypto-asset investors are learning recently is that ICOs and frauds are nearly inseparable. This is particularly true, given that no week comes to an end without news of ICO scams breaking somewhere in the world. Sometimes, ICO exit-scams even go unreported. Despite the myriad of exit-scams associating with it, people cannot stop giving it a try. This especially when it offers high returns on investment (ROI) or the business plan looks so convincing. Most importantly, ICOs remain the fastest way of making easy money. Though, these things are about to change in South Korea.

ICO Research Labs On The Rise

A new study shows that analysts from the security sector and private equity are subscribing to the idea of opening cryptocurrency research institutes. Their plan is to provide market analysis and targets for interested cryptocurrency investors. The study also says these research labs are targeting institutional investors instead of casual traders lacking cryptocurrency trading knowledge. The research labs help the ICO investors to identify strong, feasible ICO projects and avert the dangers of falling for exit-scams.

Instances Of Such Labs

A typical example of such a research lab is Chain Partners Inc. or Chain, the study says. Explaining how it functions, the study reveals that the firm, Blockchain Company Builder, currently hires staffers with not less than five years investment banking experience. The team of researchers is led by a former analyst at Shinhan Investment Corp, Han Dae-hoon.

Chain Partners Inc. publishes daily crypto-asset trading reports for both local and foreign markets. With a large subscriber base, Chain ensures that it feeds them with the latest market trends and reports. Chain is also the first cryptocurrency firm to introduce a cryptocurrency index for tracking the various prices of digital assets in South Korea.

Exchanges Are Extending Their Services

In June 2018, Coinone, the third-largest crypto-exchange in South Korea, launched its research center for crypto-asset market analysis to interested people for just a small fee. Well, Binance, the world’s largest exchange by daily trading volume, is not far behind. Currently, they are working on a new app, known as Binance Info Application, to help financial decision makers and investors. Currently available in beta test, the new app will provide information on 1200 cryptocurrencies every day.

Making ICOs Work In South Korea

While ICOs are receiving scrutinization in countries where they are largely legitimate, South Korean government is working hard to evolve a new strategy to stabilize the volatile industry. The South Korea media says local authorities are finalizing new frameworks to support the burgeoning ICO industry.

 

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