Bloomberg Ethereum and bitcoin dropped after South Korea banned domestic initial coin offerings (ICOs) and margin trading in cryptocurrencies. The Financial Services Commission in Seoul said all forms of ICOs are prohibited in the country, including projects that share profits, rights, dividends, and other ‘coin-style’ offerings, according to a statement. The commission also banned practice of loaning funds to trade …

Bloomberg Chinese offshore dollar bond issuance will reach as much as 80 percent of the Asia ex-Japan market in three to five years as buying support from the region grows and the country continues its reform drive, according to Goldman Sachs Asset Management LP. Issuers from China accounted for about 60 percent of dollar-denominated bonds priced in Asia excluding Japan …

Bloomberg Citigroup Inc. applied for a backup license in France, hedging its bet on making Germany the headquarters for its new European Union broker-dealer after Brexit. Jim Cowles, the bank’s chief executive officer for Europe, the Middle East and Africa, told French newspaper Les Echos that the license is part of a plan to move positions across the continent. The …