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Chinese regulators discussed plans designed to initiate a crackdown on ICOs being held in China, according to local media. It is alleged that the discussions took place during a meeting hosted by the People’s Bank of China (PBOC).

Chinese Authorities Are Discussing a Number of Measures Designed to Crackdown on ICOs

https://news.bitcoin.com/chinese-regulators-consider-crackdown-on-icos/ (https://news.bitcoin.com/chinese-regulators-consider-crackdown-on-icos/)

Haha, this is freakin hilarious!

Yet, the US is OK to trade with China and not with Cuba.  MUAHAHAHAHA

How are they planing to track down those participants?

Participating on ICO in China is a crime now and could cause your death. Now that is just going to kill the future millionaire in this country. There are a lot of them going to die if they knew how to track them. NEO must have the access. :)

By participants, they mean ICO contributors or team members, or both?
This is insane

This is something ridiculous,or this is a fake news. Because from a country that has been accepting bitcoin in large scale compared to other nations as well having large number of people actively into bitcoin and other digital currencies coming up with such a plan will surely ruin the value of the country among the countries that make it legal.

Right now everyone is clueless. Yeah if they know ICO traders there will be many people who would face difficulty.

How BTC Bitcoin would be growing ? China was good quantum player in bitcoin process. Share your opinion.

May be it would fake news so thought of sharing in these forum to have more clarity on the same.

Rightly said China plays good quantum role in bitcoin upliftment.

Chinese ICOs are crazy. The government just wants to prevent the next bubble. Everyone is just printing money in China then when it busts, lots of bag holders.

An article on Forbes, one in Business Insider, and quite a lot of others on cryptocurrencies news websites ... fake news it doesn't seem to be. Damn, that's a bit rough ...  ::)


Been telling myself that, too. Not sure how this'll pan out, or if the Chinese gov would go through with this. Seems like a paradox, considering what happened in the last few months ...

So people abused the ICO mechanism and now you are all surprised and complaining that the authorities are taking things in their own hands? Lets wait and see what comes out of this and how other countries react.

If things are that bad in China they might put this kind of funding on ice until regulations come out.

I think the question is not clear because ICO conducting owners or people who are participating in ICO. See firstly Blockchain should be done legal activities in order to control the ICO. Daily many ICO's are being launched with different innovative though but how far their legit nobody doesn't know, so governments should come forward and ask them to prove themselves whether they are legit or not.

If launching an ICO for a good cause project then why do they need to be punished? If China made it illegal to launch ICos then there must be a reason for doing so. I dont wonder much. Maybe scammers are everywhere in China that's why.

There are many people who are openly involved in crypto and ICOs.
Most of the enthusiastic youths and young business persons.
A hardline approach can be counteractive for the communist party.

This is just unsubstantiated rumor and gossip with no evidence behind it whatsoever. It's been circulating amongst crypto journalists for a while. The keep republishing this nonsense to get clicks on their crappy Bitcoin websites.

The reality is that the Chinese National government is cracking down hard on pyramid schemes and other sorts of financial fraud often associated with organized crime. A few dodgy ICOs might be caught up in this but they're a tiny part of a much wider problem.

Genuine financial innovation, including cryptos is still encouraged in China. They may even be developing a progressive attitude to ICO.

More information in our blogs about this topic:

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

Thats certainly bad news for the cryptocurrency world, especially the project owner and developer. china is the biggest market in Asia and very high demand for investment. ICO will lose one of the largest potential markets in the world, and will significantly affect for ICO crowdsale

Now the main question is, will your attitude change next time you read white paper
published by China based team raising funds for new innovative project. I regret missing out on some good Chinese projects but who knows it might have been blessing.

What about you are you going to be more cautious?

I agree with some of you that the article(s)/news might not be based on facts but everything is possible specially with the upcoming Chinese communist party congress where new leadership will be selected.


https://www.ft.com/content/75a09c43-1916-37c4-af3d-dc1d3bb4df90

Oh relax guys. This is just another sensationalist story. Just like how kinder candy is banned by USA but not guns in stores (only some states do anyway), and it becomes a big hoo ha. Big deal. By the way, lots of countries have death penalties that have never been enforced. Do you know some of the obscure laws of your country?

Cant be sure? How much you do know about China? Once they would impose such law then they would really mean it. If there would be a death penalty then I strongly believe they would really impose such thing.I see this is really a ridiculous step by them and why it comes so far on which It comes to a point on where giving a serious step to fight ico participants on such place.

that's the problem since china really serious if they impose a law I remember before when they say that they will place all drug related case to this sanction
and they did, so its a bad for those who wants to earn from any ico oh well that's life and that a government that have their own position regarding to this
matter.

I hope that's a fake news... What a shame

Some people don't easily believe on how countries do impose new laws.Some may not be strict and just forget on what they announce but knowing China they are really strict and we can really able to see that thing on how serious they are when they do like to make a new law. Once been announced then it will 100% be implemented and I agree on what you said sad for those people who are really fan on joining ICO on those place.

Well if this is the way the Government of China wants to protect it's people from scams, it's a little harsh but at the same time it may stop the Crypto space being riddled with fake and scammy projects. I wonder if this will affect the price of NEO if ICOS are no longer allowed to be run in China?

:'( why doesn't make a ICO platform to control and use NEO is base currency. I hold some NEO and really curious about this

This news is not accurate or I might say that this is just a rumor. If its true, well we don't have any choice since china have the higher alt coin members. Let's just hope that it won't happen.

That explains why i have seen less ICO's to be from china and more from Singapore and other places but is this the last resort of the government..? To be honest such a harsh punishment and we know they mean well and all in an effort to reduce scams but this might affect established currencies negatively and bring fear into crypto users. 

Isn't OP exaggerating?  How would a person investing in an ICO get a death penalty?  This is not a heinous crime and far different from illegal drugs.  Aside from that if the person is trading ICO's then for sure he had spend his own money from it.  It would be heartless for a government to give such heavy penalty for an ICO traders.

If it is not fake news I guess they will have death penality only for scammers...

ICO is different with the bitcoin, the ico has a high chance to be turned into the another scam. that's why the pboc try to regulate the ico. It seems to be a normal thing if you see the fact that too many ico already turned into the scam but not at all. But the news is not 100% true in my opinion.

What a rumor.

"Anyone looking to raise funds in China through an ICO can sleep better. Five years in prison is the maximum jail time that awaits those whose token has been ruled an illegal security. Only those fraudulently raising money can expect higher sentences, and even life imprisonment."

https://www.forbes.com/sites/leonhardweese/2017/08/30/blockchain-icos-can-china-issue-the-death-penalty-for-illegal-fundraising/#4e15b6d46225 (https://www.forbes.com/sites/leonhardweese/2017/08/30/blockchain-icos-can-china-issue-the-death-penalty-for-illegal-fundraising/#4e15b6d46225)

As if the link provided wasn't interesting enough OP had to add the clickbait about the death penalty. And as the responses indicate most folks don't even read the link provided to discover zero content about death penalty. Maybe that's why investors need government protection from the ICO fraudsters. To stupid to even do the research.

This. It's just click bait. If an ICO is associated with true financial fraud and possibly organised crime and violence, of course the Chinese government will punish those criminals hard. They should.

Legit ICOs and other financial innovation have nothing to worry about.

China is a very strict country in legal matters, so this news may be true and not a hoax, but I think they only punish the perpetrators of scammer crime

Better unload those NEOs  then.. Nor ICOs going to be hosted there..

Joking aside, I'm thinking they will mainly go after unregulated stuff.

I can not imagine the death penalty for ICO perpetrators, this is very unreasonable.
If it is true like that will be much exposed to punishment because almost 30% of China's population plunge into ico.

Don't really see death penalties being handed out for participating in ICOs but other measures like a few months jail time and some cash penalty would seem to be where they're heading with this idea.
Using a simple VPN which doesn't store logs could be the solution for the Chinese people to invest in ICOs and even that is that their own risks.

Yea this is the end of speculations, the massage send by Chinese authorities is loud and clear.
“committee led by China’s central bank today announced an immediate ban on ICO funding”

https://techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/?ncid=mobilenavtrend

is it that bad? In my opinion. Such regulation indicates a concern and negative thinking about ico. whether there is no other way more comprehensive

China has banned ICO's that's not fake news, but I haven't seen anyone talk about giving Death penalty...

i think this guy summed it up really well in his post : https://www.reddit.com/r/NEO/comments/6xz6tl/how_china_banned_icos_and_how_you_can_benefit/
doesn't seem that bad to me, just people panic and sell. I'm buying up right now while the price is low.

Thanks for the article, it's a good read ! I'm personnaly waiting a bit more for the prices to go even lower.

What happened with this chinese ? After they sold much graphic board for ethereum mining. Now they banned the ico. Not onle banned next ico. But who trade ico token ? And that death penalty ? Omg this is the over reacting from china goverment.

Thanks god we have japanese and korean now. Also putin is in our side now...

The current situation in China is very unstable. They constantly forbid the ICO from using the NEO platform and this made me lose a lot of property. I think the Chinese market is influential all over the world, if the government enacts certain laws then surely the Cryptocurrency market will be unstable in the short term.

Aaaaand it happened. I wonder what will Japan and SK do. It's definitely a (low) blow imo but it makes coins a little cheaper to purchase so it's all good in the end? With the upcoming metropolis ETH might surface better in the end.

I don't know about death penalty though, it sounds so medieval and useless in this context. 

This is hillarious. Has to be a joke. Its okay for CHina to trade with United States of AMerica and its arch rival,  Notrth Korea, but htey will hand or shoot people who indulge in trading. I smell bullshit

ICO = scam by definition, now even China says it.

Need more proof?

Is this really true?  I havent heard this news yet.  If this is really true,  boy am I glad i dont live in China.