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Korean ICO Project Shuts Down Due To Regulatory Uncertainty And Difficulties Onboarding New Users
Summary: An $8 million Korean ICO project is shutting down, citing regulatory uncertainty and difficulties in onboarding new users. Contents Protocol, the content-sharing subsidiary of popular Korean streaming service WATCHA Play, announced on Wednesday that after numerous failed attempts to turn the business into success, the firm would be shutting down and would be refunding investors ...
An $8 million Korean ICO project is shutting down, citing regulatory uncertainty and difficulties in onboarding new users.
Contents Protocol, the content-sharing subsidiary of popular Korean streaming service WATCHA Play, announced on Wednesday that after numerous failed attempts to turn the business into success, the firm would be shutting down and would be refunding investors as much as $7.5 million-worth of the ether (ETH) raised in its initial coin offering (ICO).
In an announcement on Wednesday, Contents Protocol complained that were unable to reach consumers because of the "negative perception toward cryptocurrency, price volatility and complex user experience."
By Janelle Fox
Tags: Blockchain,Closing,Cryptocurrency,Korea,WATCHA Play
Link: Korean ICO Project Shuts Down Due To Regulatory Uncertainty And Difficulties Onboarding New Users [Copy]
