investigation Archives -
The Federal Bureau of Prisons said Friday that it is investigating the conduct of notorious former hedge fund manager Martin Shkreli after a report he was using a cellphone to help run a drug company from the New Jersey prison where he is serving a seven-year term.
Shkreli even used the contraband…
Add one more to the list of investigations linked to President Trump: A week after Michael Cohen told the House Oversight Committee that his former client had inflated the value of assets to insurance companies comes news that the New York State Department of Financial Services is investigating the Trump…
Of course, the whole Russia witch hunt was never really about finding evidence of collusion to begin with.
Fans once called Ryan Adams “the new Bob Dylan.” But after allegations of sexual misconduct , he might become the new Anthony Weiner. Sources tell the New York Times that the FBI has launched an investigation of the singer and is trying to determine whether he broke the law by exchanging…
Natural causes. That’s the official explanation for the death of soul icon James Brown in 2006 at the age of 73. Congestive heart failure to be more specific. Now, however, CNN has come out with a three-part investigation— Part 1 , Part 2 , and Part 3 —raising the bombshell possibility that…
Russian prosecutors have launched a new investigation into the mysterious case of nine students who died in bizarre circumstances after disappearing on a skiing trip 60 years ago.
CNN.com – RSS Channel – World
The world’s richest man doesn’t know how his racy text messages to Lauren Sanchez ended up in the National Enquirer —but he can afford to hire private investigators to find out. Gavin de Becker, longtime security chief for Jeff Bezos, is leading the privately funded investigation. He tells the Daily…
The South Korean government has updated its stance on initial coin offerings (ICOs) as well as announced the results of its 3-month investigation of ICO activities carried out by Korean companies. The government found that many companies have bypassed its ICO ban and conducted token sales overseas.
ICO Policy Update
The South Korean government announced on Thursday the outcome of its investigation of ICO activities conducted by Korean companies as well as the future direction it is taking on ICOs.
“With requests to allow ICOs piling up, the government investigated 24 companies and their offerings for three months starting September ,” The Investor reported, adding:
The Korean government on Jan. 31 said it will maintain a strict ban on initial coin offerings, saying that a three-month investigation proved they are very risky.
“We will continue to remain cautious about systemizing ICOs,” the office under the Prime Minister’s Secretariat was quoted by the news outlet as saying. “If we suggest guidelines, it can be understood that we approve of ICOs which is a risky investment option.”
Results of 3-Month Investigation
The South Korean Financial Supervisory Service (FSS) conducted an ICO investigation from September to November last year. Twenty-four local companies with ICO projects were asked to cooperate on a voluntary basis. The government sent them a questionnaire and inspected their whitepapers and press releases. The results from 22 companies were analyzed.
The aim of the investigation was to analyze ICOs conducted by Korean companies and establish proper responses, the government said on Thursday.
The regulator found that none of the companies have actually launched their projects but they are all developing platforms or carrying out test services, The Investor elaborated. “Most of the 22 companies were set up as an overseas paper company and carried out ICOs overseas, but were intended for the Korean market.”
The government’s official announcement states that “domestic companies have conducted many ICO overseas,” thus bypassing the government’s ban. They have established subsidiaries abroad, such as in Singapore, with less than 10 million won (~$ 8,945) in capital and an average of only three employees including the executive of the local company.
Meanwhile, each new token trades at four exchanges on average, with its price commonly falling 68 percent after the first day of trading. The FSS has also found cases of illegal ICO activities such as the issuance and trading of security tokens as well as the selling of investment funds, the government detailed.
The Office for Government Policy Coordination was quoted by The Investor as saying:
There were cases of important investment information missing, such as company introduction, business plans and financial statements … Especially, there was no disclosure on how those funds were used and most of them refused to answer the financial authorities’ request.
What do you think of South Korea’s ICO stance? Let us know in the comments section below.
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After an investigation that has lasted more than 20 months, it’s almost Mueller Time. Acting Attorney General Matt Whitaker said Monday that special counsel Robert Mueller is nearly ready to wrap up his investigation of alleged Russian meddling in the 2016 election, the New York Times reports. “The investigation is,…