Bitcoin Forum

China Blocking ICO? What do you think about this?
NEO Already reacted to this statement

I saw the news as well, is it why it is goign down already?

Its not a good one for Asian market

ico is international market
maybe about ico from neo can blocking,  transaction use bitcoin or altcoin can't detection , can't trace
and china not same USA with SEC can control in the world

So far this news is affecting NEO price, but I think this is just a bump in the road and NEO will soon recover and reach new ATH. At least hope so  ;D

No, they will just regulate Chinese origin ICOs to make it safe for investors. They know 99% of ICOs are scams anyway.
ICOs also always say they ill not take US investors, but does it prevent the Amercans from buying up pretty much all ICOs?
In the case of Red Pulse. I think the regulations are out too close to their ICO sales day, and they dont have enough time to adjust to it, so they decided to leave out Chinese investors for the moment.
Selling an idea - white paper for 10mil seems reasonable, but 100mil+ (BANCOR) and 200mil+ (Tezos)? Good luck.

They blocked facebook as well but chinese still using it

Not only NEO, ongoing and future ICO's will be affected by this trending topic about ICO regulations from different parts of the world.

I think regulating it will be  good thing,  bcos most of them want to scam people

It is not a good news for the companies raising funds through ICO since Chinese have strong purchase power. I guess the Chinese will have a way to go around it.

this is good, and I bet the first regulated ICO approved in China will for sure going to the moon.

otherwise, ICO to me is like a private fund raising while the fund raiser would not give a F to people who chipped in.

i heard this, but i think it may be over-interpreted, ICO need Regulation, its good for a long term development, but its hard to block and it shouldn't be
most important, ICO is a trend, China goverment is so smart to against it

I agree Ico needs regulation. If China block ICO they can use unseen coin like DASh or XMr. I think ICO will move on with or without regulation.

it does not only happen to china, but also russia. I think their government sees things that can not be controlled and taken profit, so they reject it and will soon issue a regulation to ban such activities.

I wouldn't worry too much.
You have the US on the other side who is basically legitimising ICOs.
And we all know what happened to Bitcoin after China repeatedly supposedly banned it.
Look where we are now.

Another manipulation on market from China....

I don't think that will prevent the Chinese from investing in ICO.

Has it happened already? i read they doing investigation on risk level of the ICO's in order to protect investors from losses. This means their finding points to excessive risk as per their metrics, the US SEC is on the same trail, this may lead to a major bearish trend considering china's purchasing power. i will be observing the response to this  

... and i thouhgt china politic opens cryptomarkets at the moment.

how can they track their citizens who will invest/create an ICO ?  or the regulation will effect to the outside china who will not accept invest from china people ? this news confuse me, it's hard to track where a transaction come from

i've read SEC will take an action too for ICO, but it's normal i think because the money funded from the ICO is very huge number, it can easily beat traditional markets.

I do not think the Chinese government can block the ICO projects since this has been a global market and it is so promising that no one will try to stop it.

I don't know how they can do this. But as far as I know  know United states and Singapore citizens are not allowed to invest in ICOs (please someone correct me if I am wrong)
Does Any one know how can governments do this?

I believe that what the governments want is compliance and not an outright ban. If NEO can find the right balance, citizens from both countries should still be allowed to participate in ICOs on NEO, with the added benefits (or downside, depends on how you look at it) of regulation.

Yes they are blocking icos like usa did for Americans. Well this just gives more opportunity to europe :)

China is not blocking ICOs, but will regulate ICO for the reason that too many ICOs are just scam. And Europe will be the next. I think this is a good sign for having a better investment environment. 

Thought it was very bad news, but it turns out it's for the best!

The market is reacting to the FUD by fear dumping NEO. Buy the fear. Anyone who bought that epic dump in the 600's had a chance to sell up into the 800s earlier and we're still sitting in the 700's. Once the FUD goes away and we are back to normal trading, people will realize it is still a very good project with a great future and the price will rocket up again. I doubt this news will impact further ICOs much. Regulation of this Chinese market means that we can get more reliable projects to invest into!

i don't know about it, i just know this news from you OP

I think it's a good thing.
Better companies, minimize scam.

I think the Chinese people have lost from ICO, thus declaring blocking for ICO maybe the ICO they join a lot of swindlers. Hope can get back to normal without any blocking ;)

I saw the news on Coindesk as well. China has already forbidden very many financial products. However, the Chinese have always found a way to continue to invest. I think that is especially so in the anonymous area. If the ban comes, then certainly less coins will flow into ICOs from Chinese investors, but it will not have so much effect in my opinion. But generally more and more institutions all over the world try to regulate or ban ICOs.

Its not like that they will be banning ICO's. Only working to regulate them the same way SEC did it in USA. Its a good thing for the long term if you think straight.

I think the principle here is like Proof of Work for Security, by making it costly for registered companies to do ICO's it reduces scams and/or bad actors. But, keep in mind, scams comes from unregistered companies or from companies registered on protected "realms" like Switzerland so it's effectiveness is vague and depending on how costly it should become companies could rethink about the old IPO model again, so It can be more effective for damage limitation for the old model than actually preventing scams. On the other side everytime a Government talk about blockchain it is doing a major marketing campaign for it as the majority of people don't even know about bitcoin, altcoins or blockchains but usually listen when the Government talks about something, so overall it is bringing even more people for ICO's through their massive reach on media and public. Ultimately speaking decentralization also means unregulated and they can only regulate where there is a point of centralization like on centralized exchanges and their chambers of commerce where their companies are registered with. So this is just like psychology warfare where one party claim something unfeasible and hope the other parties have engaged enough fear from it that it works even it is impractical. In the end it has a real impact for amateur scammers and newcomers blockchain users but Ultimately it is unregulated by design.

I'm just curious to see where NEO is going to go from here. It has definitely had a dip, but not a drastic one.

Well they haven't but they might, not may :D I briefly read the post today via LinkedIn and what I understood was that if the proposed regulatory strategy doesn't work and if ICOs continue to be a kinda threat to the country or its economy, then a step to ban all ICOs might be plausible. But how will this banning thang work? That I have no freaking idea :D

China,Singapore,India Japan will release his own regulation regarding ico,for now i see Binance exch accepted some ico,s Sec regulations are not really regulation only warnings.To be honest lot of people will lost money on all those hypes.It is to big and for all industry will be good to be not suspected for money laudering

The bigger picture here is that China is fighting hard against pyramid schemes and other sorts of financial fraud. ICOs are really a tiny part of this.

There's actually a lot of evidence that the Chinese national government is friendly to cryptocurrencies and financial innovation, including ICO.

We wrote a couple of blog posts about this. Links below. In summary: The Chinese government is very keen on risk management. They will go after the bad guys, but they will also give the good guys some space to work. Legit ICO projects should have nothing to worry about.

https://medium.com/@andrew.mccarthy/icos-based-in-china-a-concern-for-investors-1b4b3f244cfc (https://medium.com/@andrew.mccarthy/icos-based-in-china-a-concern-for-investors-1b4b3f244cfc)

https://medium.com/@andrew.mccarthy/investigation-into-shanghai-blockchain-summit-national-crackdown-or-simple-misunderstanding-6e851fbf20ec (https://medium.com/@andrew.mccarthy/investigation-into-shanghai-blockchain-summit-national-crackdown-or-simple-misunderstanding-6e851fbf20ec)

I think every country has a different perspective on ICO. This is a reaction to the negative effects arising from ICO. Is there a possible way to have a negative effect due to the scam amount of ICOs being minimized? this requires cooperation and the same mindset.

I think this is not a blanket banning of ICOs. Singapore is doing the same, right? But not really a total ban of ICOs. These are just regulations. Just to put ICOs in the right place and order. After all, any government should not just allow everyone to hold an ICO for the sake of making and gathering money and in the end the investors will end up seething in anger of the failed project. This is a timely regulation.

Hey guys,

I'm an American living in China for over 9 years (fully fluent and literate in Mandarin), and I'm deeply involved in the industry here.

I've got to say that the Chinese ICO regulation won't do anything to change the market except make the Chinese hungrier to invest in Western ICOs (which is my specialty).

The market will shift so that the ICO platforms in China will die, the Exchanges in China may take on fewer new coins, but the real important thing is that if the Western companies want to get Chinese investors, they'll have to design a Chinese landing page for them to directly invest through (and then my company can promote through our circles in China)!

ICO Regulation won't change the industry much for us small folk.

This is the first i've heard of but if it is true, that just means there's a better opportunity for the rest of the world to get in on the ico's.  China's been buying many of the tokens of popular icos.

NEO has AML (anti money laundering) and KYC (know your customer) features on its platform, which means that it is actually much easier for them to liaise with the Chinese government on making future ICOs compliant than for other platforms with more anonymity features. Granted, being non-anonymous has always been a give and take (depending on what you believe crypto currencies should be like), but in this case, it seems that this particular development is actually giving NEO a competitive edge against the other smart contract platforms. Assuming that China is banning Chinese citizens from participating in ICOs across all projects that do not meet their requirements, this can only be good news for NEO.

it seems I just heard if china block ICO but I can't be sure if it's true or not.

China is gonna regulate ICOs, not outright block them. Doesnt really come as a surprise when you think about China to be honest...if they let something like this ride freely now that would be weird. If yuo're holding NEO it still means that they might work together with the govt and have better chances of succeeding while other competitors (like Eth) might just be straight banned from the country

If the government backs cypto and puts in controls that support investors it could be a good thing.

It is currently the wild west with all these new icos popping drawing millions in investment

Eitherway, the uncertainty will cause a lot of volatility. Which is good if you are yet to invest!

It looks good for the investors but it will not be a good thing if the PBOC try to regulating all of the ico, i mean all of the structure to run an ico in chinese environment. The redpulse already delayed again the crowdsale due to the pboc latest announcement regarding the ico regulation.

if indeed make ico banned it will make bad impact also for us bounty hunters,  :(
i fear if ico is banned all over the world, like america, russia impact will also happen in ethereum  :)
hopefully ico will continue to run  :)

Right. China will go just after the bad guys. There's a huge problem here with pyramid schemes and other sorts of fraud. A few dodgy ICOs are a small part of that massive issue. China does not want to kill financial innovation, including ICO.

Here's an article by the Director of PBOC Digital Currency Research Institute. It's very positive about ICO.

http://news.8btc.com/pboc-official-research-on-ico-and-its-regulation (http://news.8btc.com/pboc-official-research-on-ico-and-its-regulation)

This is bad news. It's bad that governments are starting to get involved with and control over the cryptocurrency space.

As long as they go after the scammers, the pyramid schemes and the fraudsters I think it's a positive thing for genuine financial innovation.

Bitcoin users in China do not use the digital currency to transact in their daily lives. However, they use the currency as an activity that is not widely practiced by society in general. Such as investing as well as for currency conversion.

As I see,the project from other country had made Chinese government worried more money flow to overseas
and I think it also is a protection for investor ,ICO project not all ready,it fills a lots of scam

AFAIK there is no blocking at this moment, they will only implement a regulation. The regulation of ICO in China will not surprise me. ICO is a boom business in China, and the government is worried about the lack of regulation. If there is no regulation, it will turn out to be messy. The purpose of regulation is to protect the interest of the investor and to be protected from scammers. China is about control, they want to control everything.

yes I agree with you, sir. The Chinese government prefers to reinforce the fundamentals in this country by preventing money from flowing to other countries. but in fact, China is the largest potential market in Asia, ICO have a great demand there, ICO with good rating will be quickly sold

china's goal is not for blocking indeed china has a good market opportunity for ICO but the government take such actions just because it wants to protect domestic investors and also may have certain intentions from the government.

what do u get this information. I see a paper on forbes last week say CHina doesn't block ICO

I thought it's a good thing for the really good ICO items, in past few months, there are some many new ICOs in China market, and actually, you're hard to determine which one is worth to invest.

Looks like there will be some regulation coming, hope it's not a temporary block all scenario, like they did to bitcoin withdraw early in the year. Short term this is actually good to ICO outside of China as chinese investor will try stay away from local ICOs. Long term, this is good news for a healthy crypto ecosystem all together.

is u mean block? or gov china have a plan to control ICO? control ICO is good. avoid scam ICO

Funny how no one really understands that you won't be able to prevent ICOs from happening in china. Or rather Chinese people will still be able to participate. Blockchain isn't bound to nations like traditional companies.

China people very smart. If block ICO in their country. They can hire foreign people to hold ICO. nothing can stop them!

I agree with you . Nothing can stop China at this time because they own a lot of Bitcoin and to organize an ICO is very easy for them but they will invest a lot on that ICO system that succeeds.

is this will be bad news for NEO? I hold some NEO and curious!

How can block the ICO? All investments go through the crypto currency.
And it is not possible to block the crypto currency.

Therefore, all efforts of the Chinese government will be in vain.

I think it is not a bad news for NEO since the China government can not block ICO projects essentially, and it seems some big whale try to get down the price and make profit.

I heard China is controlling ICO not blocking. I think this is an action of Chinese government to minimize scams. I have a buy position in NEO, but the coin dropped a lot. I guess NEO investors from China are really affected.

What is it with all these countries blocking Icos? Its not good for the crypto market and I can see it affecting the price of a few popular coins.

There is no way to stop ICO in China because the Cryptoucurrency market is meant to serve people who want to invest but do not want to be in control. I think it will be a long time to stop ICO in China

Better China government regulates the ICOs, otherwise there will be too many cheating. There are too many cheating in China.

all these governments are just trying to save the Chinese people, but the problem now is if they can actually stop icos because the market is done internationally, but many people do icos because of the money, not because of the value they are going to add to blockchain technology, early crypto adopters seeks to add value, but now it seems to be all about the money

Will USA do the same?

The People's Bank of China said on its official website on Sept. 3 that it had completed its investigation of ICOs and would strongly forbid this activity in the future and fined finalized ICOs by breaking the law.

But that has happened. China hopes to soon introduce a policy to push back the ICO

Currently, the Russian Ministry of Finance also limits Bitcoin to a full-scale citizen development and promulgates regulations that only allow qualified investors to trade Bitcoin. The altcoin market is shrinking

I agree on this. They are always after profit so they will surely find a way how to profit in Crypto even if it their country bans ICO's

The decline of the cryptographic market could create a more stable market.

That also happens in Russia: "Bitcoins are not allowed to appear in the country, so other Bitcoins are only mining, trading overseas. Mining wastes electricity and does not have any effect on the Russian economy. "

I will answer this is a bad thing, china blocked Ico, not only china I heard news from another thread that Korea and Russia also block ICO. this is bad news

It can happen to cryptocurrencies or ICOs. I think chinese investors of ICo will not keep silent with this policy.

about the words you describe, the bad news for Russian people who have bitcoin and following ICO, that bitcoin has been banned from being used in Russia, and bitcoin is only done for mining, this week a lot of bad news .. hopefully this will be finished soon and bitcoin prices will grow up back

what you say, how to block facebook, when they still use facebook? I hope investors in china can move against blasphemy about the ICO ban by china.

All government of this world has a bottom line which is control of wealth, China moving to regulate the ICO space is logical considering the fact that Chinese cryptocurrency acceptance is huge, their economy will experience the capital migration which they might not be able to audit or account for, most other countries will respond in the same way as acceptance space of cryptocurrecy continues to grow

I have heard the Chinese government will stop all the Chinese exchanges from someone in a slack, I do not if it is true, the price dropped a lot, is that the reason?

I have not heard that, but I hope it is not true. That could really lead to a price drop in BTC and everything else.

Just another government trying to control the uncontrollable.

i know the news about china ban. but i have not heard of neo and have not investigated it.

but I think there will be an effort to get permissions, although it would be tough to waste a lot of time.

If they do not block ICO market in their country, in someday, this field will become to speculative place for investor anywhere.
Even, China will become to one of countries have a huge number of speculator invest to ICO market. :P

china government can not affected bitcoin price at first announced. they try to dump but can not success.

China wants part of the $$ pie. Give them a tax and money and they will be happy.

Yes the main reason for todays drop is that there is a news from China that they are planning to ban exchanges being run within their country and it could have a small impact in the price and it will rise at a later stage because crypto currency is not centered around China anymore but it could hurt the coins coming out of China especially NEO.

yes maybe what you are talking about is true, china wants to influence the bitcoin price, but it has an effect now it seems that bitcoin prices are falling down

you should invest in BlackMoon, NEO pump and dump badly so it is better to have safe investment

Thanks
Regards

Just as I heard and as you predicted, the btc and some other crypto coins dropped a lot these days because of the Chinese regulations. I also hope it is not true.

I don't think that it is the impact of the ban of ICOs by the china government in china because here i am seeing any factor that is making the connection between these two ( neo and ICOs ban) .
Actually here China government going to ban ICOs only because most of the ICOs are not profitable and also they usually sell those coins which are not made yet , so why we should think about it in negative point .
And also here it is the truth for every coin that the price will jump rapidly then it will come back soon to down , Even it happened with the bitcoin in the past , so don't try to collaborate the neo market in china ICOs ban .
And also you can see about the graph of the Neo coin that is telling directly that how rapidly it goes to $100+ and now as usual it get back to 24$ , so this is natural factor not the effect of ICOs ban news of the china ;)

Its more like a temporary ban which will be lifted and the ICO's will start again but with some new strict regulations.

yes as the one with the offers from the crypto finance business that the use on works as the customs of manage with evaluation to

requires of the modest on initials with the basics of ideal as

referring use of returns as the value on contrast as the decision to work with the displacement of resource with the involvesment with the business of

the crypto finance.

compared with ones as most of the commons as prc country has with the most on labor within the field of technical production as

distinguished the limit on competence to commit with the works of the strategic level.

that the use as above mention as prc to release the looseness on regulation to follows with the policy of their customs on closed relation country to

barre/restrict information exchange with the control from the polit bereau.

as those might redefined with the future as most with their people to gains of the better on supports with the basics on ideal as following the

level of moderation as entering forums with the wider customs of profile with the partisan

on not to ruin as distracting the customs of origin with the crypto finance business as the customs with the ICO offering with the point on objectives.

the picture below should refer of customs with the profile as mentioned of the ICO buyer from PRC

that they are not absolutely with the modest on looks or presence that not near with the profiles of the finance analyst or theirs with the customs as

the literated ones.

https://cdn4.i-scmp.com/sites/default/files/styles/980x551/public/2015/05/27/labourchina.lide_.afp_.jpg


http://s1.ibtimes.com/sites/www.ibtimes.com/files/2013/02/04/china-labor.jpg

Blocking something is not as effective as it was back in the time when the internet was not that common. Especially when you are talking about crypto the ban will not serve it's ambition. It caused only a minor set back but i'm sure markets will turn back to normal in no time. China wants to have a control over Money flow but this is not the right way.

Not good for some local chinese because their govertment are making moves to strengthen their currency stronger than dollar. China slowly on the move  on closing their doors for the outside words in terms of economics and nationalism. This is part of their strategy later on it will be the bitcoin will be the next.

I guess the government that they had wasn't fair though they cared for the economic effect, but the real reason is that they're just proven their authority of power as well as greed government. It's agreeable that the situation is not right and freedom of the ico was resisted by china authority. Mainly it also caused the price to suppress and most of the alt as of the present days were all at dropping sell values.

 It can be effective if they decide to seize any bank account that relates with an ico. Let's just hope they won't.

Ban is temporary,Ico will comeback with China regulation,No wild west china ico
http://www.coinfox.info/news/7582-china-to-allow-ico-after-deciding-on-licensing

I think Chinese guys are really smart. They made market to go down with their news (which btw was mostly the warning, not the law), now they buy the most interesting assets and the market will change trend to positive again. But how long will they have such an opportunity to affect the global decentralised market?

The price of bitcoin went down after they have announced their banning of ICO's. No surprise about that after all bitcoin is a superpower country, thus it is given that their decision would significantly affect any concerns. Anyhow, the banning is temporary (as said by the post above me) and I have read somewhere that ICO investors are eying Singapore as a prospect for investment so nothing to be alarmed after all.

This has been going around already for a while. This must be temporary. And if ever it stays there permanently in case the chinese government is really determined to put a stop to all ICOs once and for all, then we cannot do anything about it anymore. We cannot force the chinese government to follow our preferences. We just have to move on from this chinese wrong move. There is still a huge market out there.

I also hope this is a temporary act because if China bans ICO permanently then surely many of the next ICO projects will be affected and this will be bad for the modern industry because the ICO is trending of the world.

Yes, really. Do not think that government are more stupid than that forum :) This steps are for take decision only. And decision will be soon. And certainly more strict than we think!

those might be of one as with the assumption on focusing the shift on limit of moderation as they might tied with the strict regulation of the information

exchange as the ban policy of the prc country helps on following further as the better qualification only as from their side to gains with the chance as

entering crypto currency market as having with the "uniform trace" of customs as ready to exchange of the complex on appropriation as expending use of

unit on potentials to turns on contrast as gaining with the decision of investment.

China ban Exchange too.

It is good to have a check on things and to flush out the frauds from the ICO market and strict rules and regulations is needed to avoid those circumstances in the future and it is time that they start monitoring these big money grabs as i have seen enough scams in the past and i really hope this is a step towards more strict regulations on how to conduct an ICO.

China Blocking ICO this effect in crypto market temporary down but many ico launch other country so recover market very fast

I do not think the Chinese government can block the ICO projects since this has been a global market and it is so promising that no one will try to stop it.

I'm glad there is already a confirmation that this ban is just temporary, I am badly affected by this though, I still haven't recovered any of my investments. I'm still holding most of my coins and waiting for the perfect time to sell. I really hope price will eventually be back to normal soon especially for btc.

It’s usually the way things work. There should be some lawyers ready to defend Cryptocurrencies and other digital assets because they need to prove to the judge that the people could still use those types of things even if the government gets rid of it. Most people that purchase ICO’s have the knowledge to use a computer and make purchases on it. The other group of people don’t know how to even purchase items on amazon without asking for help to do so.
They Government just needs to work on getting more people interested in doing their own thing and when that happens that’s when things get rough.

I think this is a good step for crypto world in future.

Maybe you're right! I think some country will also have ICO ban for the safety of there people! If China ICO ban will not resolve I think it can affect the crypto market value and for sure this is just temporary.

China has a strong influence on the currency. But it will survive even with this ban, China is huge and underdeveloped.

as the regulation also to barre the chance on developer from the prc to enter market of the global partisan with the field of business

the use of customs gives with the distinct as point of reference that the better of limit as the level of moderation as they from the prc to improves

as first before to prepare with the following terms as gains with the chance of returns to join again as expending the relatives as the decision from the

global partisan as they have with the better literacy as complying of the higher shifts on attains with the moderation.