Bitcoin Forum

Breaking news!

ICO is officially banned in China!

Here is the joint announcement from The People 's Bank of China, Central Network Office, Ministry of Industry and Information Technology, State Administration for Industry and Commerce, China Banking Regulatory Commission, SFC, CIRC: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html

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近期，国内通过发行代币形式包括首次代币发行（ICO）进行融资的活动大量涌现，投机炒作盛行，涉嫌从事非法金融活动，严重扰乱了经济金融秩序。为贯彻落实全国金融工作会议精神，保护投资者合法权益，防范化解金融风险，依据《中华人民共和国人民银行法》、《中华人民共和国商业银行法》、《中华人民共和国证券法》、《中华人民共和国网络安全法》、《中华人民共和国电信条例》、《非法金融机构和非法金融业务活动取缔办法》等法律法规，现将有关事项公告如下：

一、准确认识代币发行融资活动的本质属性
代币发行融资是指融资主体通过代币的违规发售、流通，向投资者筹集比特币、以太币等所谓“虚拟货币”，本质上是一种未经批准非法公开融资的行为，涉嫌非法发售代币票券、非法发行证券以及非法集资、金融诈骗、传销等违法犯罪活动。有关部门将密切监测有关动态，加强与司法部门和地方政府的工作协同，按照现行工作机制，严格执法，坚决治理市场乱象。发现涉嫌犯罪问题，将移送司法机关。
代币发行融资中使用的代币或“虚拟货币”不由货币当局发行，不具有法偿性与强制性等货币属性，不具有与货币等同的法律地位，不能也不应作为货币在市场上流通使用。

二、任何组织和个人不得非法从事代币发行融资活动
本公告发布之日起，各类代币发行融资活动应当立即停止。已完成代币发行融资的组织和个人应当做出清退等安排，合理保护投资者权益，妥善处置风险。有关部门将依法严肃查处拒不停止的代币发行融资活动以及已完成的代币发行融资项目中的违法违规行为。

三、加强代币融资交易平台的管理
本公告发布之日起，任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务，不得买卖或作为中央对手方买卖代币或“虚拟货币”，不得为代币或“虚拟货币”提供定价、信息中介等服务。
对于存在违法违规问题的代币融资交易平台，金融管理部门将提请电信主管部门依法关闭其网站平台及移动APP，提请网信部门对移动APP在应用商店做下架处置，并提请工商管理部门依法吊销其营业执照。

四、各金融机构和非银行支付机构不得开展与代币发行融资交易相关的业务
各金融机构和非银行支付机构不得直接或间接为代币发行融资和“虚拟货币”提供账户开立、登记、交易、清算、结算等产品或服务，不得承保与代币和“虚拟货币”相关的保险业务或将代币和“虚拟货币”纳入保险责任范围。金融机构和非银行支付机构发现代币发行融资交易违法违规线索的，应当及时向有关部门报告。

五、社会公众应当高度警惕代币发行融资与交易的风险隐患
代币发行融资与交易存在多重风险，包括虚假资产风险、经营失败风险、投资炒作风险等，投资者须自行承担投资风险，希望广大投资者谨防上当受骗。
对各类使用“币”的名称开展的非法金融活动，社会公众应当强化风险防范意识和识别能力，及时举报相关违法违规线索。

六、充分发挥行业组织的自律作用
各类金融行业组织应当做好政策解读，督促会员单位自觉抵制与代币发行融资交易及“虚拟货币”相关的非法金融活动，远离市场乱象，加强投资者教育，共同维护正常的金融秩序。

I think it's a policy of the Chinese government to protect the citizens from fraud with the ICO. As we know there is many ICOs became a fraud, and China's acting quickly to make regulations on it. Nothing bad can happen if every ICO developer records their name on the official government list to become a legal company. CMIIW.

Good thing they didn't ban the Internet itself by this point. Oh wait, they pretty much did.

ICO are a bad idea and most of them are either scams or leave the investor with the same result. Chinese government seems to ban anything with possible bad effects on people, so I am not surprised.

Good article about this subject:
m/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html]https://www.c[Suspicious link removed]m/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html (https://www.c[Suspicious link removed)

This is bound to happen but Op would have done a better job by translating it before posting as this will save the stress of having to go through Google translation before being able to read but at the same time what the Chinese government wants is regulation in which they want it to be routed through them but that is not a problem but the problem is how exactly do they want to stop it?.

Can we request for translation? Thanks!!!

While you wait for translation go look at the prices of NEO and BNB. Neo is down to $17 dollars from like 34 today, and BNB is down to .61 cents from $1.70 or so today. Absolute bloodbath.

I read the news four days ago, People's Bank of China seems to be very concerned about the high risks that ICO projects bring to investors. So far, the market for cryptocurrency in China is still not controlled, ICO projects can easily call for capital to be created everywhere, and at any time, without a sustainable Blockchain platform. This can pose risks to potential investors. Many businesses can use these tools to mobilize real money through virtual currency as a way to circumvent the existing laws and regulations in the financial market. It is also possible that ICO will cause another bubble in the virtual currency market.

Is anyone surprised by this? Bitcoin looks positively benign compared to the perceived damage unfettered ICOs could do. I expect more of this in other countries too. The writing was on the wall, doused in fuel and set on fire.

My God! This is very bad for NEO investors, including me! We thought that neo is the Chinese ethereum on which it's easy to build icos. That must've made this coin very popular and expensive! Now, as China banned icos, nobody will actually use neo. I mean, sure programming languages are a big advantage of neo above eth, but that's not enough to beat it if Chinese don't launch icos!

This decision was probably made because most of ICO's can't sustain themselves and just sink after being officialy launched. It looks like a smart decision by them, so they avoid running on new tokens every now and then and can focus on establishing the real coins that exist in the cryptocurrency world

My quick and dirty translation of the notice:

Recently there are a lot of ICO activities .These encourage speculation, illegal financial activities, wreaking havoc in the financial world. To act on previous financial conference press results, we have to protect legal investors’ legal right & prevent financial risk, according to “blah blah financial law”, “blah blah financial regulation”, we make this notice:
1.   Correctly understand the nature of ICO acitivites
ICO is a disguised fundraising activity. ETH, so called crypto, is indeed an illegal and unapproved way of financing activity. It’s illegal issuance of shares, illegal financing activity, financial fraud, fraudulent sales activities etc. Related govt regulatory body will work closely together to rectify this mess and intensify law enforcement.
Any coins from ICO or tokens not issued by Monetary Authority, do not bare legal monetary identity, do not bare same legal status as legal tender, and cannot be used like legal tender in the market.
2.   Any organisation or individual are not allowed to participate in illegal ICO financing
From today onwards, all ICO must stop. Any organisation or individual involved in ICO that are completed must arrange cancellation / repayment. It must protect investors’ right, carefully deal with risks. Any further ICO or illegal activities related to past ICO would be penalised.
3.   Reinforce coin, ICO exchange platform management
From today onwards, so called exchange platforms are not allowed to participate in exchange of fiat vs tokens, fiat vs crypto. They are also not allowed to buy/ sell as a centralised participant. Not allowed to provide pricing or information as an intermediary.
Any platform against these rules will have their website, mobile apps shut down and license to operate revoked.
4.   Financial institutions and non bank payment organisations are not allowed to participate in ICO and its related business directly or indirectly
This includes products or servicing related to creating accounts, registration, trading, settlement etc They are not allowed to act as guarantor in crypto related insurance. Any suspicious activity should be reported immediately.
5.   Public should be vigilant against risk of cypto ICO
ICO has different layers of risk. They include false asset risk, opreations failure risk, speculative risk. Individual investors must protect themselves and bear the risks themselves. Members of public should be vigilant of any ICO activities done in the name of “coin”. Any suspicious activity should be reported immediately.
6.   Financial industry should unite together to unleash self-regulatory power
Finacnial organistaions should carefully understand law and regulations, remind participants to naturally fight against illegal ICO activities to save the market from this hot mess, continually to educate people and enhance a healthy and normal financial order.

It's a bloodbath, time to buy the dip or jump the ship?

Anyone have any insights on this crash, it seems to be affecting the entire ecosystem.

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

https://www.reuters.com/article/us-china-finance-digital/china-bans-initial-coin-offerings-as-illegal-fundraising-idUSKCN1BF0R7

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

Well this is a big blow to NEO because without ICOs the growth of NEO will be stuttered but i have been a victim of many ICO scams so i will say this is a step in the right direction, until there is an authentic way of identifying a good ICOs many countries will start banning ICOs  

Good. These ICO's should all be banned worldwide. Same old developers creating pretty websites and conning noobs. It gives BTC and any GENUINE cryptocurrency bad press.

Bad news for the market in short-term, but good news in long-term. They should've done something with scams, and finally they made it.

Brief English explanation of the announcement: (I am not a good translator so correct me if necessary)

1. ICOs = illegal fundraising. Bitcoin and Ethereum are not currencies and should not be used as currencies in transactions.
2. No organizations and individuals are allowed to start ICOs, and ongoing ICOs should stop immediately with investments send back to investors.
3. (Important) No cryptocurrency exchanges are allowed to offer currency-to-"cryptocurrency" exchange any longer, a.k.a. e.g. no CNY-to-Bitcoin or Bitcoin-to-CNY exchange allowed.
4. Financial institutes that are not banks must not offer any related services.
5. Investors into ICOs must take full responsibility into their actions (that is to say, if you lose your assets through such "investment", no laws would protect you)
6. blah...

Impacting everything across the board it seems - didn't expect this to have such an affect to be honest...might be a good time to buy.

It's almost reminiscent of the PBOC banning Bitcoin. So I guess they'll have to ban ICOs another dozen or so times, too. :D

This wasn't expected from me. I figured it was all up in the air. I was surprised at the very hands-off approach that the SEC took ("maybe some tokens are securities, but we're not doing anything right now") and I thought maybe a similar approach would be taken by other governments. I guess not.

Dumb idea if this is true.  Why not ban the population from breathing air to protect them from bad air in some part of China.
 It's funny how those who criticises ICOs are busy promoting them here. Hypocrisy is a shameful thing .
By the way, Chinese people can still invest if they want to. Difficult to censor the Internet these days... It going to be more difficult in the future.

Interesting how is this going to affect on-going ICOs and those that are planned for the nearest future. Really curious to read the full version of PBC decision in English, there definitely should be the ways to bypass the regulation.

China is jealous of Bitcoins and call it a coincidence that last time Bitcoin was on a stellar run, China suddenly decided to check it exchanges and that resulted in it's pricing dropping, I have a feeling that China top power people want to buy at low prices and that's why they try and stop it, why can't they learn they can't stop North Korea and can't stop Bitcoins. I don't think existing ico will be effected but new ones could.

I would think that ICO organizers would add terms prohibiting participation from Chinese residents, similar to language we already see towards US residents. I'm curious about what happens with ICOs that have already happened. There is talk of repatriation of funds (at least according to Google translate). Does that mean that ICO organizers need to liquidate funds to pay back Chinese investors?

If this is accurate, point number 3 is a pretty big concern and will impact trading in China massively.

Government all over the globe want to control the finacial market and there economy,with cryptocurrency thecnology governnent have little or no influence,this seems like a threat to the polity,this may be reasons why they will want to make rules to control the market

If anyone else can chime in regarding translation, please do. This is a massive development if so.

China's exchanges don't have quite the influence that they once had a year or two ago, but that would basically destroy the entire business model of Okcoin, Houbi and BTCC, among other exchanges.

Given that this seems geared towards ICOs, and I haven't heard anything from other people regarding fiat exchanges, I'm skeptical of Point #3 for now.

Yes this is accurate. see my translation also. no fiat to crypto, not even USD.
I posted a longer translation in #12

"From today onwards, so called exchange platforms are not allowed to participate in exchange of fiat vs tokens, fiat vs crypto. They are also not allowed to buy/ sell as a centralised participant. Not allowed to provide pricing or information as an intermediary.
Any platform against these rules will have their website, mobile apps shut down and license to operate revoked."

However the words tokens and crypto are a little bit ambiguous in Chinese.... we've yet to wait for any clarification but there might be no clarification at all..... so let's see.

In the majority of cases ICO fundraisers do not even know who exactly invested in the project. They might know ETH or BTC wallet number without having information if it belongs to a Chinese citizen or not. What should they do in this case...? In US you are not able to participate if your token is security token, in other cases you can, not clear yet if Chinese prohibition has something to do with that.

Agreed with this, since ICO is all about fundraising to support a business, which business means business needs to pay government taxes, and with this banning i hope other countries will follow to ban ico, this make the bitcoin community and bitcoin talk forum safe from fraudulent ICOs.

ICO ban in china should positively affect BTC on the long run as coins will have to be present on exchanges to get acess to the Chinese Market.

Markets panic (a habit in China). The Alts on exchanges should see their price raise, not drop: they are post ICO.

Buy the dip (especially BINANCE BUT Except NEO)

Some icos are somewhat not so good to rely on so Chinese people tried to ban icos for themselves. And as we all know that Chinese are all into business, I mean commonly known for business and if something ruins it,they will close it.

Not surprised. The amount of scams happening on the ICOsphere where unbearable. It was meant to happen sooner or later. ETH holders can consider themselves lucky because for all I know, ETH ICO was as much of an scam as the next Chinese ICO. What was the difference anyway? Most ETH developers hold most of the coins.

What annoys me the most is the fact that Bitcoin is paying the price from other people's scams. Now the entire ecosystem is on a bear market, hopefully it's just a correction.

@cnLedger, a popular source for Chinese cryptocurrency and Bitcoin news, made this clarification just now:

https://twitter.com/cnLedger/status/904638606857330688

It sounds to me like this is aimed strictly at ICOs, not cryptocurrencies. But naturally, this is a developing story and I don't think anyone has a full grasp on the ruling. Also, the PBOC changes their mind all the time...

Well, it's a bloody Monday but let's see how things settle in the next week. As of now the ETH price didn't drop as hard as I would have expected it given the sensational news. Maybe because US is fairly asleep?

They will surely save BTC and ETH , I've just remembered their Mining facilities, with this law/announcement/policy of china towards ICO will surely leave a positive remark to BTC's progress specially in China and also we will see the growth of BTC in general.

Just as an additional highlight, from 3:
任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务
法定货币 means literally "Legal currencies", 代币 means Tokens and “虚拟货币” means cryptocurrencies
So... exchange between fiat and tokens OR cryptocurrencies are officially banned. Even if the cryptocurrencies themselves are not banned, such action serves a great blow nevertheless.

OOOPS.
Just reviewed the original line:
代币融资交易平台 = Token financing and exchange platforms
I am not sure if exchanges such as OKCoin are considered a major "Token" exchange platform (instead of Cryptocurrency exchange platform). So I am not quite sure about the wording now...

This greatly affects NEO as well, I think China just shoot themselves into the foot with this one. They could have lead the way to a better crypto world. Sure, regulate, inspect, improve, be cautious...but ban??

RIP $NEO, and other Chinese ICOs...

Is there a list of Chinese ICOs?

No possibility that this means "no token/crypto or token/fiat trading?"

Did someone forget to tell the Chinese exchanges? Because their BTCCNY tickers are all chugging away normally right now. If cnLedger says that this doesn't affect cryptocurrencies, then I'm not jumping to the opposite conclusion yet.

In the FT's coverage of the story, they also seem to refer only to ICOs (the "cyber currency fundraising mechanism"), not assets like BTC:

I am not able to get its point about this post due to lake of my skills in chaina language. would you please translate it anyone for getting better understanding.
thanks in advance.

NEO's price took a hit. Panic sellers all over the place. I even witnessed a 115BTC buy order getting filled at 0.004btc. Maybe its a good time to scoop some. I do think NEO will still continue after all it is not just an ICO platform but a blockchain project.  

I've updated my previous reply. Actually you did make me found something I am not quite sure about. Interesting though...

As for "no token/crypto or token/fiat trading", I go by my original translation
法定货币与代币、“虚拟货币”
与 serves more as "and" and 、serves more like a symbol combining the latter two terms into one single term. So it should be "no fiat/token or fiat/crypto trading" (source: I am a native speaker of Chinese)

Maybe in China have certain thoughts about bitcoin. can also the government there a bit sentimental with bitcoin due to bitcoin ditemukaan by satoshi which incidentally comes from japan. you know that China and Japan will never get along

While I immediately disagree with central invervention, I would have to say that this is the right move, in the context of protecting a lot of normal people. This can only be the result of pressure from very vocal and public complaints against the majority of Chinese ICOs, mostly people new to crypto, burning entire life savings into buying something they didn't understand. There's an entire microcosm of Chinese forums and social media filled with "netizens" who got bit by the latest ICO hit and run. It's the fault of greedy people thinking they found the latest way to multiply their money without any effort.

This is really reminiscent of the steps the Chinese government took with so-called P2P lending platforms in China when hundreds of them (many accepting Bitcoin) fleeced millions of dollars from Chinese citizens under the guise of business lending. I'm almost certain the same groups running them are behind a lot of ICOs.

Not really.
It's purely driven by concerns the ICO bubble grows into something more fraudulent causing instability in society.
If you followed Chinese financial market news closely, you'd know the chinese govt has had very extremem measures to cope with volatility in the stock market 2 years ago.
Whatever China govt does, they always mostly just care about stability as China is huge and difficult to manage.

Hence this has nothing to do with national sentiment or anything like that. it's really just for the sake of market stability.

Well put, especially the part about protecting people, considering what happened in China in 2015/2016.

https://en.wikipedia.org/wiki/2015%E2%80%9316_Chinese_stock_market_turbulence

this is actually a very sad problem, but china step for tires ico is right because some months is rampant once new ico ico that can not be controlled

I doubt that serious financial business is conducted based on the petty nationalism and grudges between countries. After all, no one believes that Satoshi was Japanese, so who would really care, besides he has nothing to do with Bitcoin anymore and definitely not with ICOs. This theory would be a really big stretch.

In opposition to the intervention of the government, proper ICO's should be extracted from the others long time ago, this should be seen also in other countries as well in a short time. Also this is not a good feedback for bitcoin.

The war against cryptocurrencies have started. Little wonder the collective market cap shrunk over the weekend. I see neo,bitcoin and other alts lost ground. Hopefully it is temporary.

Here's the list of ICOs banned by China:

http://image.ibb.co/knwXta/China_ICO_ban.png

Looks like nothing of value was lost. Purge that shit.

Once the markets realize this is not a global ban of all ICOs, but only some ICOs that no one even knows, BTC will be the first to go back up, followed by speculative altcoin money short after.

Stop falling for the good ol chinese tricks and traps and buy the dip.

Let me help with the translation:

1. The previous translations are spot on. However, minor point is that it does not mention bitcoin or ethereum per say, but applies to all crytocurrencies or tokens.

2. Same. ICOs in progress/completed must refund investors.

3. Same.  Exchanges not allowed.

4. Same. Banks and financial institutions are not allowed to be involved in crypto.

5. ICO investors bear all losses in any event.

6. Warning to financial institutions not to get involved in cryptocurrency or else... (typical chinese paternalism)

Buz for investors it should noz have relevance, only for the projects, right?

Seems like the beginning of the end for unregulated ICOs.

KYC doesn't fix anything. It's the ICO owners that need to be reviewed, not the investors.

Well China is makes right decision banning ICO for good China is just protecting their people's wealth to those fraudulent ICO scams but it's quite disappointing that scammers ruined the name of ICOs and also for the legitimate ones. Now it is hard to choose and trust on ICOs because of these scammers.

Have they already officially banned it? I thought it was reports saying that the government would ban it and not an official law yet.

I couldn't agree more, but at the same time they're excluding their people from potential legitimate ones, if there are such. In my opinion, it's a bold move for China.

Does it mean, that all ICO in the world is banned by Chinese government?

only two countries banned ico that is china and america ,, so there are still many countries that allow ico, we need not worry, maybe at this time, the news affecting bitcoin price, yesterday the price of $ 4900 bitcoin and now drops to 4200 $, altcoin price also down ,. I hope this is only temporary.

China is just trolling and spreading FUD, so they can buy cheap coins...

Some idiots have to sell BTC at $4,160 for others to buy them.
I wonder who thinks that selling BTC at $4,160 is a smart move.

USA will wake up soon and buy all the BTC. A nice heist. For once uncle Sam wins agains the Great Wall.

And China not being able to buy more BTC with fiat will have issues coming back in the game.
BTC becomes a scarce and wanted resource. It's becoming precious for China (if you managed to get some before, you are lucky!).

India, Korea, Japan, and southeast Asia must be laughing hard today.

I don't speak chinese. How do you know it's not a global ban on all ICOs and only a few selected ones?

That thing does look like a list. So if there is a list, im guessing the ban is not global.

One of the ICOs that got me worried the most is NEO due the massive volume, but it looks like this will not have an impact on NEO (other than the price crash due panic selling of course..)

http://image.ibb.co/gFVdzF/dahong.jpg


What I don't get is.. he says "regulation", but this is a straight ban so?

This is bad, I do believe the government had a good intention but by banning ICO is not a great move. Especially for someone that already put a lot of their money into ICO and this can be the end of china alt coin like neo, but it is not a suprised move made by China, China like to banned everything

All what I am seeing is just a way reduce the continued dominance of bitcoin and find a way to stop it. Although, they have legitimate reasons because most ICOs don't have a workable prototype but some have turned out to be the best. In all Tue market will still need to react to this news because news from that end always dealt some effect on price but hopefully we recover and continue to soar.

That's right. We all know that part of ICOs were create for taking money from people without any progressive idea of the token or altcoin. Creators of such ICOs must be really rich now. I think China is the first country who banned ICOs due to their scamming activity, but not the last country who will do the same. All this scammers should be punished and banning is the only way. But again there is a problem of banning of perspective projects which also can be found in all mass of ICOs. I'm so exited about this news that I even don't know what to think about this banning and all those people who already invested in ICOs before it's official release!

I agree with you. It is hard to believe that they are trying to block all the ICOs. NEO is falling very hard and it is all because of the new rules come from the Chinese government. Well, they can ban but people will still participate in ICOs for sure. China are full of wise and intelligent people. The government can not stop them from earning more and more money

Because of the policy, all cryptocurrency price is down a lot. Some up to -60%.

In my opinion it is a great step, I think ICOs are really an open window for scams and with the great population adapting BTC it is very hard to still think that every thing is safe within the concept of BTC.
I can see how China contributes to bitcoin and how it affects the whole industry.
It will be a big dip but I am willing to wait. Hope that they resolve issues. Safer income is better than anything else.

if you ask me, ICOs and this many alt-coins are a bad idea and this ban is somewhat good. Most of the bigger investors were pumping and dumping new alts and crash trier price right after their release for profit and then moving on to the next one.

How does China do this? Do they actively search for new and upcoming ICOs and ban their IP addresses? What stops someone from China from sending ETH to an ICO? Or do they all follow what the government says?

i think that this is just temporary.
however, there will be strict regulations before approving any ICOs
and strict regulations are needed to protect people from illegal fund raising, and intentional fraud.

Bitcoin's direction is always going down as a result of China's constant repressive administration, because China is an important country, I wish it was a little innovative like Japan, but last summer My friend who went to China told me that I had an ATM problem, and although he is the biggest investor in Bitcoin, they are not taking a step forward.

In some way I'm kind of glad this is happening due to all the scams out there, but I'm not into more regulation though.

Why do you think so?
ICO is likea gambling. Gambling actually is not so good, but someone whants to play this game. And i'm a bit.. but agree with you.

I heard about this news and I guess this is the reason why there are dumping that is happening right now people are on panic specially the newbies this news has a big effect into crypto since China one of the biggest investors of bitcoin.

I think Chinese governament is taking this very seriously. May be they received many complaints against the fraud ICO scam, so they are coming with this strong decision. According to me, this will effect on all altcoins price you just look the all altcoins price list it keeps on falling.

The problem with ICOs is the lack of transparency. You never know if the developers are buying coins from themselves, to inflate the crowdfunding numbers and create a false sense of interest.

The Chinese banned most access to the internet to via their firewalls and the people still access these sites. Agreed, the ICO's

is becoming a problem and proper regulation would have been the best solution, but as usual the Chinese government over

reacted and they ban something before they did their homework. Prepare for a much cheaper Bitcoin now, the market will

also over react now.  >:(

Yes, PBOC already banned ICOs project and all funds should be returned to investors, it is a doom for many project in China obviously.
But, I think people in China should be able to invest on some ICO projects as long as its operated outside the country which many companies have done it. PBOC will not know about ethereum or bitcoin being transferred to buy some tokens from several ICOs.
The People’s Bank of China (PBOC) has ordered the cessation of all initial coin offerings (ICOs) in China, mandating that active ICOs must return funds to investors. The announcements confirm rumors originating from Chinese media outlet Caixin that the PBOC had decided to initiate a crackdown on initial coin offerings operating in China.
https://news.bitcoin.com/chinas-central-bank-deems-icos-illegal-refunds-mandated/

Well, I'm afraid for the bitcoin future and other crytocurrencies as well.
China is the second latest country in the world with the highest number of investors in cryptocurrency.
If china bans ICOs, bitcoin to CNY and CNY to bitcoin exchange, it is like China is in war with cryptocurrency.
And if china is in war with cryptocurrency then we gonna have serious problem. :(

I don't understand anything except the fact that ICO is bamned in China.
But... Why? I think ICO is promising, a good place to invest and also something that give us opportunity to earn eth.
Do China goverment think ico is a threat?
And do they banned bitcoin as well? Or just ico?
However i feel sad to the bitcoin lovers in China. It must be hard for them, also the developers there.

Very bad politics, this is very detrimental to China. ICO is a legitimate transaction if the case continues, I am afraid Bitcoin will continue to fall.
Hopefully this week will be finished soon.

Interesting to watch!

​ICOs will be the first test if China is capable of banning anything crypto, they are mostly not decentralized

Don't have any problem with the Chinese banning the IPOs. From what I can see, 90% of the recent ICOs are either overpriced, or outright ponzis and scams. As long as the Chinese are not banning Bitcoin or the established altcoins such as Ethereum, Bitcoin Cash, and Litecoin, I am not complaining. And I heard that the American authorities are also about to ban the ICOs there.

Most impacted were the largest ICO tokens, Qtum and OmiseGo

I strongly agree with you saying, this is the policy of a country. I think this has an impact for btc decline.

I think as well that China is only the first country that bans ICO. Other will follow.
The problem is that those coins brought a lot of money into crypto.
They will not do that anymore in the near future.
But I have heared as well that this ban will not take for ever.
China wants to have some basic rules the ICOs must apply to. Once those rules are set up ICOs will be reopened.

Thanks for notify, current situation of the market is in shock after PBOC announced ban ICO.
I agree not only altcoins but this also affect bitcoin price, maybe bitcoin could persist at $4000 levels.
The good news is; most coins in the market on bloodbath, red everywhere which mean it's discount time.
Don't worry about it, just buy more cheaper coins and prepare for the upcoming profits when the prices recover and rise again.

What kind of participation/impact does China have on ICOs right now? Not sure if that's a fair question, but on average, what % of investors of an ICO are coming from China?

Yeah I'm not clicking on that link, but I believe the story since there
are multiple threads on this.  Didn't care when the US ctacked down and I
sure as hell don't care about China doing it.  It's worse for them, as they're
heavily involved in crypto and likely ICOs as well.  Interesting.

As I already wrote in another topic, I believe that this ban is just a temporary decision. Here's why:
1) There are lots of fraud activities in cryptocurrency at this moment and to be able to protect people from this fraud government should decide how to regulate this new industry.
Cryptocurrency industry scaling speed is way too fast at the moment and demands fast decisions.
On the other hand, China doesn't want to make fast decisions concerning market on which they really want to be a leader.
So this is just a "STOP, THINK, DECIDE" measure being implemented;
2) I think China also understands, that there is no way to be a leader on such digitalized and decentralized market with forbidding everything strategy.
On the contrary, as a government you have to make comfortable conditions including smart regulation measures for your industry leaders to be able to drive this market on local level, especially when your country is a huge part of it.

From my point of view these 2 reasons are enough to make a conclusion that this is a preventive measure and after China will decide what to do they will reform this ban into something much more flexible.
The problem is that by that time this measure will cause some damage and I'm hoping for some official statements in order to stabilize situation, at least I hope there are some industry lobbies in China.

I think the main reason why china banned ICO in their country because lately many ICOs are fraud and scam i think they only do that in order to protect their citizen and their money. It is a good thing that their government is fast action but sadly not all ICOs are fraud there are still good and profitable icos out there.

I do not understand why the government in China is so worried about bitcoin. and I'm a bad thing for bitcoin .

I believe the idea of holding a token sale become too easy for anyone that wanted to try this out and needed some regulations, and I think one of the reasons this ban has been imposed is because token sales became more like a pyramid scheme for weak projects leaving long term investors at a guaranteed loss...its unfortunate ICO's have being classified as illegal fund-raising/financial fraud hope we can see a favorable environment for future  virtual currencies to coexist with fiat.

Don't believe in Chinese regulations and no offence about it at all. I live in different country and my country has allowed me and given rights to invest in ICO or any kind of virtual world on my own risk. That is what I want from my government and I'm thankful to them.


It's China's negative side that they are banning something very futuristic and they will just loose lots of assets over it. Thus will increase the flood of investment from other countries and their economy will be more brighter as compared to China. Hopefully that's the assumption as per economist perspective. Peace to China and rest of the world in investing the way they want. ;-)

99% of these ICOs are cancer, and people advertising them are greedy idiots. Nice going China, time for EU, Japan and Russia to follow and shut down the bullshit sales (e.g. Bancor, StorJ, Civx, etc.).
https://i.imgur.com/0TwIa4K.png
Loving this part.

2000% agree.

I love the part too. Binance is gonna suffer...
BTC becomes a rare asset now in China... happy those who put their hands on some of the coins before this ban.

Even though i cant understand the chinese part. I think one of the reason why china banned ICO in their country due to many ICOs are scam and fraud. They do this to secure the money of their citizen.  But it is their loss because not all ICO are fraud there are some good ICOs out there... And i think there are also hidden meaning about why they ban ICO

We have experience from a previous bitcoin ban in China. This is infinity less than that.

I don't think that China will ban bitcoins, the targets are scam ICOs. Blockchain tech is the future, China won't miss it.

I think this is going to calm down somewhat the current ico craze that we have, but at the same time people that really want to invest in those projects will find a way, that is basically what they are doing with bitcoin they like bitcoin because it allows them to bypass current restrictions that are in place in China.

Good news that ICO banned. I hope it is banned everywhere, at least going through a formal process (like those IPO through SEC). There are way too many scams there (in fact, most ICOs are scams).

I agree most of them are nothing but scam. The people behind such scam ICOs use it as a tool to make money. I think nobody needs so many coins, they don't even have any practical use. I think after China many more countries are going to ban ICOs and even if they are not banning it they will definitely have some strict rules and regulations for ICOs and there should be one I think.

Have you read the news about china's mining bitmain is fundraising for $50 million USD? can we connect this news why china banned ICOs? I think it's really connected, we can see that china is working hard to be a center of bitcoin mining.

Oh my gosh! This is really shocking! I never really thought that this could ever happen to any country! Specially china where a lot of people loved crypto currencies! Plus all the rumors that cryptos are getting widely accepted in that country. Damn! Who would've thought? Well, maybe people there over did it and started abusing the things crypto currencies could do that's why the government needed to take action. I just hope there ain't no hidden agendas with this decision.

Why is it good? China government is putting his nose where it shouldn't. Nobody forces anyone to invest on those ICOs. These "fraudulent" ICOs you say are like a game and the players know about the risks. People say ICOs are pure speculation, well, for many people Bitcoin is pure speculation too, should it be banned too?

Everything the government wants is a piece of the cake. I heared if you want to run your ICO you need to inform all the details to the government, ask permission, this kind of stuff... Just because they want some profit, step by step centralizing even more the Crypto-Currency world.

I must say I am a newbie at this and today's decline has shaken me. Hopefully things will get better

Thanks for the informtion.
China would have been a good market for an ICO since they have the numbers in terms of population.
I think the government is just making measures to protect their people form investing their money on online investments (especially on cryptocurrency)  not controlled or regulated by their government.

As a newbie you should get used to this decline and you must take advantage of the decline in the market because you can buy a lot of bitcoin and altcoins to save some money and you can get a higher profit if the decline is gone. This is normal in cryptocurrency world to see a huge decline or rise in the market so just get used to see this always.

This is really affecting the market. However I am not a fan of ICO as well. I just cant see its worth. Chinese government is really up to something(they also do control everything from their people)

For me. China is trying to manipulate all of the Cryptoucurrency market with this news but my view is different. I am sure China has planned from the start to make many investors panic and sell all the assets makes all altcoin also discounted by and China will buy it cheaply

Why manipulate lol, it's official news though from China. Because of this news China banned ICO, so many cryptocurrency price fall and bleeding even bitcoin too. God damn China, when the bad news come, the price always suddenly dropped so hard. It means China has a big part of the bitcoin community.

Because most of ICOs are only for money,Bad money drives out good is happening to ICO ,so government must pay much attention on it.But I think only regulation can guarantee the long-term healthy development in the industry.

Clearly there needs to be more regulation and oversight regarding cryptocurrencies around the world. On the other hand, there are legitimate projects that should be recognized as such. Hopefully China and other countries will find a happy medium between regulating cryptocurrencies and allowing them to revolutionize the economy.

When Paris Hilton (https://www.coindesk.com/hotel-heiress-paris-hilton-is-the-latest-celebrity-to-promote-an-ico/) is involved in an ICO it's time to sell this shit. Seriously, guys, the ICOs are a mirage. Don't get let holding the empty bag!

Couldn't agree more with the sentiments shared below.

Cheers to the Chinese Government for trying to do something to keep people safe from the scams that exist.

You need to make a token provided with a product. Tokens based on dividends and promises must undergo strict verification.

We all know that these ICOs operate in gray areas of the law, but the problem primarily stems from: 1) A huge amount of money flowing into them. 2) A huge amount of money flowing into scam ICOs like Bancor or similar. Obviously they would and should be shut down.

When I was commenting that, I was stating "When people with 50 IQ are pumping random ICOs with a lot of buzzwords, then it's a sure warning sign; exit the market". The ICO that she mentioned uses all the fucking scam buzzwords, "AI", "big data", "marketing cloud", "blockchain". The team behind that project is pathetically stupid.

Next is Japan, EU and Australia and we can continue with a normal market (hopefully).

Cryptocurrency market is volatile and uncertain. I think China is just protecting its citizen from the fraud and scams brought by untrusted ICOs. Their government needs to figure out how to deal with ICO legally so they have stopped it.

This is the reason why bitcoin and most of the altcoins are dropping right now but on the other hand it gives us an opportunity to buy coins when their prices are low. It is just sad that China banned the ICO but maybe their government just protected themselves from fraud and all.

Where is the list of ICO banned officially by China. So that we can go for others?

The funny thing is people there cannot even access the whole capability of the internet and yet they ban just an ICO.
I know they are doing this to protect their people but how could they even see that an ICO is existing if the Firewall is too high that it is hard to break it.
This is just another news where it doesn't matter.
Best business in that area is VPN.  ;D

yeah i think its to protect chinese traders from being scammed.
But i just thought of their binance platform who usually offer ICOS
And those who invested. I guess they are really affected by the red price of their coins
but its crypto who knows what will happen

From what my understanding, the text mentioned ban of ICO but not Crypto Currency. Isn't that a good move to prevent irresponsible party/company  from running a scam, using cryptocurrency as front?
Other than ICO, all Cryptocurrency exchange still trading as usual, isn't it?

because of some people engaging in ICO's, a lot of people are using it as their advantage to scam people's money and that is probably the reason why they ban it on china to stop scamming which spreads through ICO's

It's a very bad notice for the btc value right? I see a mega crash on exchanges....

I think to those Chinese who have and hold bitcoin still can used there bitcoin even ICO is ban from there country because they don't ban the cryptocurrency only the ICO.

i see now on bittrex that the old reliable's are making a recovery
from the China ICO news.
The sad thing about this is that even the really good ICO's will be
affected by the China ban,
There will probably be a "Legitmate" way to create new positive
Blockchain technologies without the need for an ICO

It's not about protecting their citizens though, they want to find a way to get their cut so they banned ICOs. Once they get their foot in the door they'll say, "Oh okay, after some consideration and reflection we have decided to allow certain ICOs as long as .... "

This seems a bit different than the "China banned Bitcoin" days. Those were just cryptic proclamations that weren't backed by anything on paper. The regulations issued in this case seem very clear: ICOs are banned in China. There is no ambiguity around that at all.

I agree that, in time, this could change, but I think the PBOC was really worried at the level of capital outflows being invested into ICOs. Cryptocurrencies are one thing, and they are already concerned about that, but ICOs are arguably in a bubble and maybe they are responding to that (like they did with BTC in 2013). Also, there are a lot of scammy ICOs out there. I don't love this kind of response from the PBOC, but I get it.

This is really a bad news. They ban every ICOs or they ban some of the ICOs? What will happen if all the countries follow the same thing?

Essentially, all ICOs are banned. At least, they cannot be administered in China, and ICO tokens cannot be offered to Chinese residents.

Now, in practice that's not much different than the USA. To the SEC, most of these ICO tokens are unregistered securities, and it's definitely illegal to issue them to US residents. What happens? The people running ICOs change the terms, saying that US residents aren't allowed, and maybe at most there is an IP restriction placed. Then US residents just get a VPN and invest anyway. Same here.

Most countries regulate securities. I think most will also be a bit more subtle and just stiffly regulate ICOs, not outright ban them.

Now all price is going down because this bad news . They ban ICO because they can't control ICO fund crowding activities . Some of ICO project can get so many money just only some leader with a website page , they even don't have whitepaper for the project . Government will not let this happen because this may make national economy come with risk . If they will come out law to control the ICO , maybe is good for the future development .

This is the bitcoin price factor and almost all cryptocurrency drop, but I'm sure this will not last long because investors from outside China are also many.

Is this the reason why the prices of almost all coins dropped?

Do not allow any random anonymous prick to run an ICO -> problems *solved*.

Shitcoins and tokens are dropping because they have no use case or any actual value to begin with. It's all a speculative bubble. Bitcoin is unfortunately suffering as you usually can't trade back into fiat without using an intermediary such as Bitcoin. Bitcoin, as of today, is the only coin that is legitimate. Technically, Ethereum should also be illegal in China ATM as it was also an ICO. Technically.

Thanks for the translation.
Tried google translate but cant understand it properly....
This step taken by China may indeed be considered correct...
They are trying to protect their citizens against fraudulent coin, which we can't deny to be true.
I just hope that soon that the Chinese government would realize that there are legit ICO's out there...
:D

Wasn't Bancor banned to US residents? Yet it managed to raise tons of millions of dollars.

I believe there's no amount of bans that are going to stop ICO's from happening. There's always going to be workarounds. Whoever wants to invest is going to invest. You are probably getting rid of the bulk that are dumb enough to not be able to even know how to get an VPN and get things done and scare people with the ban thing, but ICOs are never going to disappear, even if they need to be hosted in the Cayman Islands or some shit.

I guess it's time to invest in VPN providers, that business may keep going up.

Risks are different between the US and China if you invest $1,000 in an ICO for instance:

US: bad fine... maybe your credit score would suffer...
China: braking stones and taking "happy showers" with your inmates... during 5 years.

Sound good. I am not surprise about this news. But we see after this news it's affected so much in crypto market..As we know Market will be return any time.

China takes this step and it will be  good for ICO investor. Now china will makes some rules and regulation for ICO investment for own country  as i think.

ICO is good thing every project development   but some time we see so many project after ICO and the gone or scam. after that so many people loss there money.

So China take this step now we think it will be good sign for ICO Investor and Bad for ICO Scammer.

Read about this yesterday and it sort of explained why prices dropped so sharply.  Its really a terrible thing by the Chinese regulators, in my a view backward looking decision.  We can only hope that others do not try to follow or do worse.

China is well known for being very strict when it comes to things on the internet. The abuse we have seen when it comes to ICO's is truly disgusting and China probably wants to protect their citizens. Banning is always harsh but maybe this will send a message.

Despite the fact that some ICO's were very successful, usually they are scam. If china decided to oficially ban ICO (what makes some doubts to me since almost everything illegal is easily created in china), it's good action. If people can't to don't trust shit ico's, goverment has to help them by banning it. Hope other countries will make similar decision or people don't invest in them until they fully realize all possible risk.
But still I think since some ICO was good, scammers haven't to make this thing banned.

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada (https://bitcointalk.org/index.php?topic=2127850.0), Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation (https://bitcointalk.org/index.php?topic=1558366.msg21515894#msg21515894) of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.

The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.


There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada (https://bitcointalk.org/index.php?topic=2127850.0), Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.

Nothing surprising IMHO because a few companies did conduct scam ICOs which is why governments may interfere and take such harsh steps over their citizens to stop them investing into these ICOs most of which are "schemes". I recently saw an ICO which is assuring everyone that if people will buy their tokens, they may be able to 5x, even 10x their investments which is actually ridiculous. But then, we don't live in China nor USA, so is there a need to worry?

There is not much to worry about China banning ICO, its the scam ICO that is something to worry because there are a lot of these scam ICO already offering 100% bonuses which is very attractive to the investors looking for quick profit. I guess if they can regulate it soon they will also lift the ban.

Yeah heard the news and saw the effects also. China looks trouble to us it can get the market upside down at any time. Never thought any government would charge something like this and will share the crypto world really. I think it won't last for longer times because they have most of the trading volume in crypto currency. If they keep the ban for long time it means they are locking the funds if those people who invested into ICO and this wil affect the country's economy for sure because the volume of trade is for sure very high.

This is really sad, I don't what is now going to happen in the future of icos and crypto currency in general, because China has always played a major part in it . And also good job with translating the chinese language to English for normal people to understand it. All we can do right now is wait and watch. All the best for the people living in China.

This way all other countries too would plan to ban ICOs and if China's effect could be this disastrous for the market, the altcoins trading currently would crash and no project would manage to make money and succeed. US did not have much effect as China had on the market (especially for Ethereum).Now they are even asking for a refund from the ICOs they consider fraudulent and scams as over 2.5 billion dollars have been invested in such ICOs. How would they manage to get an account of all those funds?

Price of Bitcoin already regrow up, nice.
I hope this notice doesn't damage the crypto world :)

Probably overall in the long run a good ting to have happen. I am sure it will tank the ETHprice in the short term or something.


There are a lot of ICOs that don't have any product or team that seem to appear out of no where, and they just have a working website and don't come out with a product. They make millions of USDworth of BTC or ETH and don't put out a product.

Protections are needed for sure.

I'm pretty confident that the PBOC is just buying time to develop proper regulations. In their eyes, something needed to be done about the rampant unregistered security offerings. I'd have preferred they took a more hands-off approach in the meantime, like the SEC did, but c'est la vie.

ETH is actually recovering nicely, along with BTC and other major coins. The fact is that this, fundamentally, has no bearing on actual cryptocurrencies like BTC. And even though Ethereum itself was launched via ICO (paid in bitcoins), I don't think this was intended to target it.

So that is the main reason why the price of Ethereum falls a little bit though. But if this is really true then China is just making a great move in protecting their citizens to fall for some ponzi ICO's. As long as Cryptocurrencies is not ban in China then we are all good.

I think they are wrong in taking action against the people who make ICO and who have joined the ICO in the vicinity, because the benefits what can be done cameraman China forbid people to use the internet and make ICO, maybe I think of this ICO project that can be used as money fields and reduced unemployment there. with them following a prize campaign from the project itself.

Not only Ethereum but it affected the whole crypto market especially bitcoin and others just followed it. There's a domino effect when such actions and news are being created and broadcast like this. But the transactio never stops, the market will recover and the ban will be uplift when they've got set of rules about ICO already.

Chinese companies can still hire puppets in EU countries and sell ICO in those EU countries.

ICO organizers can structure their companies outside of Chinese jurisdiction. But that doesn't solve the bigger issue: no matter where they are legally organized, they cannot offer their ICO tokens to Chinese residents. That's a huge investment pool (which is already heavily involved with cryptocurrencies) that is being removed.

At the same time, I think Chinese residents will do just as US residents do. They'll buy a VPN service and participate in ICOs that way.


I think we all saw this coming, or at least we should have. The ICO craze was out of control. I think this is healthy for the space and will help to root out some bad actors and scams.

This won't work. In the end, they will have to sell their ideas in China.
Moreover, most of the demand for ICOs came from China. So hiring puppets in EU countries will not be able to replace this demand.

I have to admit, that many ICOs were just fake rip offs. Let's see, how this will turn out.

I am completely agreed with chines government.
Now it is proper time to take action against fake illegal ICO's.

https://medium.com/@crowdholding/china-ban-on-icos-not-all-doom-and-gloom-74daf814209c

Amazing article regarding China and ICO.

Everyone should read it.

Of course there is a hidden agenda, I think the Chinese government is realizing that many people are taking their money out of china by using crypto and that they are using ICOs as a way to avoid paying their taxes, so the Chinese government is doing this to protect itself and not the investors.

ICO should be banned here too. There are many newbie started ICOs, I really doubt who will give the money to these idiots.

bad news from china makes a lot of people frantically selling cryptocurrency assets , on that occasion, I took advantage of this good moment to buy cheap coins.
long before this news, china has never tried to reject Bitcoin circulating in china but see reality now. maybe the china government just wants to protect its citizens from Scam ICO.

I managed to translate the joint statement into English word by word and tried my best to make it as close to the original meaning in Chinese as possible.

Please check it out at: https://medium.com/@YaoLiang/statement-on-prevention-of-risks-in-fundraising-through-token-offering-issued-by-seven-government-49d8cd8292f9 (https://medium.com/@YaoLiang/statement-on-prevention-of-risks-in-fundraising-through-token-offering-issued-by-seven-government-49d8cd8292f9)

Why ban them outright? If you look at the Chinese regulations, they would have prohibited the Ethereum crowdsale outright. Say what you will about Ethereum, but it wasn't a scam, and the crowdsale used quite minimal funding (vs. today's ETH market capitalization) to make a truly innovative platform.

That's not to say there's any world-changing dapps at this point. But I don't think there's any comparison between the Ethereum ICO and scams, and I don't think such crowdfunding efforts should be banned outright.

I think the SEC is taking a better approach. A blanket ban just stifles innovation and sends innovators elsewhere, and deprives citizens of good investment opportunities. I suspect they are just issuing somewhat of a moratorium until they are able to pass more sensible regulations.

Yes even i have feel the same now a days there is lots of scam ico is happening recently i participated in some scam ICO its too embarrassing its good move from china . At least there should be regulation if ICO developer records their name in government.

I think this has less to do with controlling blockchain technology, and more to do with cracking down on scams. Supposedly, the PBOC was looking into 60-odd ICOs before dropping this bomb on the industry. I think we all have to admit: while there is some legitimate innovation and potential behind some ICOs, and while they are a great avenue for crowdfunding... there are a lot of scams and snake oil out there.

Regulation was inevitable. I think this will end up being like "China banned Bitcoin" in 2014.

I think no need to worry because china banned ico. Only china and american prohibits ico.more many other countries that permit ico.
And that news only affect the btc price for 2 days ,and now i see btc prices also have started to rise again

Funny how they accept bitcoin and traded it in their market now they're banning it? Seriously the Chinese central bank should really make up their mind they seem to be half asleep if you dont like bitcoin why build mining farms of it and mine with 50% hash power. China is considered the one of the strongest miner of bitcoin. Well it seems that not all government or business man their are a fan of bitcoin that's why now it is banned. Maybe the person behind the ban is an fiat investor lol

Most of the traders and miners of bticoin in general cyripto currency have been mining by mostly Aisian communities. Chinese authorities trying to regulate this market but they also are not sure how possily they succesful on this. Immidiate reaction of this movement by the btc investors or miners were cause to prices go down a bit but let's wait for the second phase will it be positive or negative I am looking forward to get this information.

well, the news is quite appalling. after another big country, now China follows. many have linked the news to the issue of declining bitcoin prices.

   I follow bitcoin price every day, and it is recovering as you can see it for yourself. You could also read that crypto market lost a lot
of billions in past days and that was the reason of the drop, you can inform yourself here on forum, and many other places.
   I do not wish to copy/paste someone, but comments that said that bitcoin was officially banned few times and look where it is now
reflect my opinion. Many people here are saying that and with truth we need to agree.

its such a good and bad side theres so much good investors and developer in china ... and yes there are so many freaud and scam .. but protecting them  into that ?? we all know that some chinese people are  involve in scamming too ...
but we are still lucky in bitcoin communtiy because as china close their doors to bitcoin .. russia and a one of the biggest bank in the woorld step up for crypto currency and it affect the market so good ..

Great decision from China, although bitcoin took a hit in the last couple of days, seems like the effect wasn't permanent and will help regulate ICO.

Why do you think that happened in China?

Communist party, total control, party members or relatives that got scammed, idiots in charge of laws...or simply put... because it is China.
Respecting the laws in China is impossible and that's why nobody does. That's why nobody cares abut them 'banning" something for the x time last years.


They don't want to regulate it.They just want to stop them.
And nobody with a brain will invest in an ICO accepted enforced and controlled by the government.

I think only scammed ICO are banned or how it will go about in the future. Steps will be taken to make sure Scam ICO cant be run in the first place and only legal ICO can run. This can be done by registering the ICO through some authority who will check the status and give the grantee that ICO is legal or maybe take some money as a backup so that no one cant even think of scam.
Need to be patient and see how things turn out in the future.

Bitcoin price is fine, if anything Ethereum should be the most affected by these news since many coins are based on that, bitcoin has nothing to fear, only a ban on cryptocurrencies will make the price of bitcoin go down permanently and even then bitcoin will survive.

A big applause to you dude! You really have done a great job there. Keep doing such work. I click the clap button but a dialog box appeared asking me to log in. Don't mind but I am a little bit introverts. BTW, I like the idea of clapping.
I respect China's decision as ICOs were causing disturbance in financial order. What can we say more than that.

I think this is not a strange thing, although china banned bitcoin I think it will not have much effect for cryptocurrency. everything will be fine because many countries are not ready for accept cryptocurrency.

I think that despite the ban, people will still be interested in this topic

I don't understand Chinese language, so i think the point is it will affect global markets and recently i hear that btc exchangers also get banned there...

It was a matter of time, in fact I’m a little surprised that this did not happen before, maybe the Chinese are very busy on something else, even some member of the forum were asking for solutions about a way to stop or at least reduce the number of scam icos appearing in the forum and it seems that the Chinese government is going to help with that, since less money is going to flow to icos.

I don't think that it is a legit news that the exchanger are banned in China because if that is true then there will be a huge price fall in bitcoin and the market of almost all the coins including altcoins will just drop in price with a very huge dip and that will confirm the news but as we can see there is no huge dump in the market so i think everything was just adjusting their self with a new policy in china.

it will affect to global crypto currency market, but we dont know will another country follow the china regulation or not.

i hope not. but we have to prepare guys.

More news. Just yesterday the announcement was issued by the Chinese regime to stop all Chinese exchangers. So this is now the reason why the price of bitcoins is falling.

It is also a good thing because it comes from people who manipulate the prices of altcoins and bitcoins. Give us a break in the market. And gradually it will rise

yeah they only care about their people and for sure they will manage to regulate some solutions with this concerned as I personally wanted
to see how they will interfere with the crypto currency market and how they can stop those scammers to keep enjoying with scamming their
people, it will affect the market but for sure true believers will find a way survive with this situations.

I really cant see the rationale behind this move..but then anything is possible in china..its crazy though..does not make sense

I am not sure what to think nowadays, there are so many news about China and their ICO ban or exchanges ban that i really dont know what is true and what is not. I dont really need to stress myself over this because it really doesent affect me in any way but at least i am training myself at filtering the fake news from the real ones.
I will let a picture here and you can take what you want from it:

https://i.imgur.com/i7Qt3EM.jpg

Thanks for your nice comments. I will keep doing this because I think it is important for non-Chinese speakers to read the source of the news, the authentic document issued by the China authority (word by word) so that you can understand what exactly the Chinese government said. It is weird that people are commenting on something that they never had the chance to read...

Thank you for translating to allow non-Chinese to understand what is going on.

From my understanding, China government is banning ICO and Fiat to Crypto Exchange. Is my understanding correct? Does this mean Crypto to Crypto exchange is safe?

as I speak with my friends who usually read articles about news about bitcoin like this.
they say that last 2015 and 2016, china also banned ico ang bitcoin in their country, but unfortunately they bring it back. then the price of bitcoin increases amazingly.
then this year it also happen again and ethereum also included. and they think history will happen again.
correct me if im wrong.

I think many news seems to be that they are banning because they want to form regulation for ICO. We have to wait and see how they will treat ICO in future. I think we have to wait and see how their rules will going to be in coming days.

ICOs for now are illegal fundraising because actually there are no regulations but as soon as they are able to regulate it, it will cease to be illegal. That is exactly how anything beyond the control of any government is looked at!

Yeah ICO is official banned in China as it was kind of illegal fubdraising of ICO without any rules and regulations therefore China had to ban ICO. One of the reasons was ICO being banned was that there were many fake or scam ICO which would harm traders and other users.But I also don't know what is true as there are many fake news about it topic going on,just to start panic among users.China had done the right thing I think.

I think they may have been looking at crypto's already starting when they investigated the fake trading volumes around Feb-March this year. And when the price ballooned to $4000-$5000 this month, they can no longer ignore if. So they step up specially stopping fake or scam ICO, specially that a lot of Chinese has been investing on it ever since. I guess they just want to protect their people against it, but the timing of the declaration is somewhat off.

Though truly profitable, ICOs are considered scams by many but there are few that are truly legitimate. Just the right choice for China because these ICOs are targeting the people of their country because there are many crypto currency investors in China.

I think thevreason  that last time were so maby scams, hovweverit is not so honest for really goid projects. Ban it is very strict way. I think will be better to invent new solutions of scam detecting or ico verification.

Capitalist countries and communist countries have ideological differences but when it comes to protect themselves and their interest they are basically the same, China is banning icos if at some point they ban cryptocurrencies in general that would be awfully similar to what the US did when they banned gold ownership.

Thanks. Many people here in China hold the same view as yours, which is, the Crypto to Crypto exchange should be safe. I am about to translate a recent news report in Chinese into English where you can see this view point (I will post it later). However, I cannot say that your understanding is correct because according to the public statement issued by seven Chinese authorities which I have translated into English, it was clearly stated that the trading platforms (exchanges) shall not conduct the exchange business among "virtual currencies" (Section 3: Enhance the management of token fundraising and trading platforms). Based on such wording, it can't be clearer that Crypto to Crypto exchange is not allowed either.

Having said that, as a matter of fact, many things mentioned in the statement were not actually enforced as of today. For example, the statement also said that the trading platforms (exchanges) shall not conduct the exchange business between Fiat and tokens. However, if you look at the major exchanges in China, they are still providing the exchange services between Chinese Yuan and Bitcoin. Is Bitcoin a kind of token? If yes, why the exchanges can still do the exchange between Chinese Yuan and Bitcoin? Or did the token mentioned in the statement actually mean the coins other than Bitcoin? We don't know because the statement was not clear on it.

Notwithstanding the above, I think the exchange between Bitcoin and other ICO coins is not allowed in China based on the principles of the statement and as a matter of fact, the major exchanges in China have stopped the exchange between Bitcoin and other ICO coins.

Currently, Chinese people can still buy Bitcoin using Chinese Yuan and sell Bitcoin to get Chinese Yuan. The major exchanges in China can still accept the cash deposit from the Chinese investors or refund the cash to the Chinese investors, which means their bank accounts still work. But whether they can keep doing that, we will have to wait and see. Right now, nothing is sure...

Added: please see my translation of an in-depth report on the recent ban in China: https://medium.com/@YaoLiang/china-says-goodbye-to-bitcoin-exchange-the-destruction-of-the-worlds-biggest-bitcoin-market-8ff015d5e59a (https://medium.com/@YaoLiang/china-says-goodbye-to-bitcoin-exchange-the-destruction-of-the-worlds-biggest-bitcoin-market-8ff015d5e59a)

Sorry that the language may not be perfect because I did it in a rush but it should be readable.

Interesting that this had a big effect on some coins that didn't even have an ICO. However most things are recovering now so it will be interesting to see what long term effect this ban has.

Chinese country is the most complicated and many rules, I'm not sure this rule will make chinese people stop making coin (ICO). Chinese people are so creative, so even though in banned they will continue to work because this is profitable.

luckily i am living in hong kong, it is still good for us to create an ICO. however for china, this ban is really ridiculous that the scamming with ICO in regard of cryptocurrency throughout china, IMO, is low compared to Russia or europe, unless with VPNs.

no good for China, they are wanting to centralise everything.

As long as Chinese government enforced restriction in ico this scenario will continue, many ico are now restricting chinese to invest in their ico to protect their company and their investors as well, well see how it's going to be after a month or two.

It seems like it's a policy of the Chinese government to protect the citizens from fraud with the ICO projects. Because there are many ICO projects created by someone to treat investors. So when lots of the ICOs became a fraud, the China's acting quickly to make regulations on it. It due to Absolute bloodbath as well. Hope the market turn to be good. >:(

That will protect us. Now people can't create ICO ez. avoid scam. We can verify information about dev

Although I can not understand parts of China. I think one of the reasons why China prohibits ICO in their country is that many ICOs are scams and scams. They do this to secure the money of their citizens. But it is their loss because not all ICO is cheating there are some good ICOs out there ... And I think there is also hidden sense about why they forbid ICO

The only right course of action is to wait and hold, do not sell any coins until you are sure that what you read is not a rumor spread by someone trying to gain something from you and other people then and only then you should consider your options, the market has gone down and it is below 4000 the price seems to get a little more stable, just analyze the situation and based on information not rumors take the right decision for you.

No matter if a country is communist or capitalist, they always take their own benefits whn it comes to their advantage. Their ideologies doesn't change this. USA or China are the good examples.

They tried to ban all ICO, let's see what's gonna happen.

Unless it has long term success, ICOs are only profitable to early adopters (if the token is not launched below the ICO price, of course...) and a few other investors who buy before the pump.
The point is, it's not hard to understand that most ICOs will not have long term success, and many people will have to learn the hard way.

Hmm.. maybe China people should be careful and smart to chose some ICOs. So that they dont get banned. ICOs have so much useful things. It can give us financial freedom, knowledge, and many more. By blocking them isnt that bad ? I guess China people should be careful and not bann the ICO.  How do you guys think ? ???

No ICO's that specifically targeting China, it targets the whole world especially those who really in the cryptocurrency scene now, I really don't know why Chinese government made a move like this to their citizens, it seems that their cyber authorities is so great that they can monitor every financial flow in their economic growth and see that most of the money of their people is moving inside the crypto world.

For me ICO's are simply risking your money because you trusted that company who made that platform to be successful in the future, unless you are just investing blindly that you will not take time to study what is the background of the ICO itself.

All the governments of the world only care about having more power and more control over their citizens and that is why they hate bitcoin, bitcoin protects their citizens form their governments by giving the power of money back to them and away from governments.

That is just an excuse, they will try to say that it is for your own good when the only reason they are doing this is to protect themselves and to avoid losing their grip on the population, that is why the Chinese were investing in bitcoin, altcoins and icos in the first place since it allowed them to get a way from that iron fist control they experiment everyday in their lives.

Well that's to be expected. China doesn't want anything to go under their noses without them having some kind of control. Though these icos admittedly can cause people to lose money as many of the are scams, btc is quite different as well as trusted alts like ether

China has given the view that it was trying to protect the investors from scams and frauds. Its officials also said that ICOs were a disturbance to their economy so it was the need of time to make the unregulated regulated but before that they were supposed to ban ICOs which will be resumed soon.

Governments want to have control of their population but I think they are reaching a very dangerous level of power and if things keep going in this direction I will not be surprised if people rebel, not with violence but taking measures that do not allow a government to control them, encrypting their computers and communications to make it harder for governments to spy on their population and with the use of bitcoin they will avoid feeding the big governments that we have by denying them taxes.

You're implying that people would rebel in the first place. Most people are comfortable with what they have and what they do, and they have no issues with being a tax machine if they manage to keep their bread and circuses. Of course, they likely won't even have those for very long. If you've ever read "The Hollow Men" and have some explanations and interpretations, that is essentially the path the world will go down and it won't change unless people cannot get their welfare, food, or money in general.

Universal Basic Income will cement government control, should it ever get passed in any significant manner.

God ... mostly ICO's propaganda reminds scientology or something   

When I heard this news, I was afraid that the neighboring country of China will banned ICO, but as of now it is not. And Im glad that we will not suffer as what have China did. Because we all know that ICOs have a lot of benefits if give us. But I think China did this to prevent people from scammers and such.

This is certainly very sad, when cryptocurrency industry is growing rapidly precisely china banned ICO government. I hope this does not impact too much and ICO continues to grow in the future.

yes it is sadly know that news but we can not do anything while the government itself said that. the only we can do is the other country is not following china to banned ico. i think in future, if the ico can give a proof that it is really good, i am sure the other government will allowing ico to followed by their people. and if the ico can make sure that their investor money will not gone, i think they have another chance to release the project into public.

That will never happen, governments may think they are above basic math but they are not, Universal basic income is never going to pass, there is not enough in taxes to guarantee that, governments of the world are struggling as it is, the economy of the world is nothing but a house of cards ready to fall, and when it does, people are going to see that fake promises of free stuff must always be paid one way or another.

There is always a workaround. Anyone who wants to invest will invest. Maybe you are removing large amounts that are not enough to not know how to get a VPN and do everything and scare everyone, but the ICO will never go away, even if they It should be held in the Cayman Islands or some shit. I believe there are no number of bans that will stop the ICO from happening. There is always a workaround. Anyone who wants to invest will invest. Not surprisingly this news. But we notice after this news it is heavily affected in the crypto market. As we know the market will be back at any time.
I think it will not last anymore because they have most of the volume traded in crypto currency. If they keep a ban for long periods of time, that means they are locked out of funds if they invest in the ICO and this will affect the economy of this country as surely the volume of trade is very high. .

from the start I do not know for sure about this news ,,,, is it true or not? if anyone would give me information about ICO banned in china ,, may i ask for the source of the information?

I didn't understand anything but lately i saw many ico's banning Chinese citizens like they do with American citizens.

I’m not surprised they did this, they are trying their best to control their citizens and all those icos gave people an instrument to move their money away of China with extreme ease, if the ban at some point ends then you can expect a great amount of regulation and then another instrument will be needed to be created for those that want to have access to Chinese investors.

I think it's not good. It's really easy and fast way to earn money. For example I was a big fun of red pulse but by now its too sad. At that moment I invested into Confideal and Jibrel Network for sure

I think its a good idea and the other government should ban cryptocurrencies based ICO'S or maybe regulate it because we really don't know what the funds raised is really used for what if it is a scheme by terrorists to fund their operations.  I agree with China on their stance and the US SEC are also concerned about it as well.

Well that sucks but we can still invest in lots of ICOs of november:
Bitclave
Upfiring
Confideal

If say without kidding, I think that wont make market more stable:(

all the noise just makes better and more frequent opportunities for traders...

And then Bitcoint jump to 7k$  :D :D :D :D

You never know, you never know.)

Not a surprise at all since most ICO there are just purely scams and just want to get money from people's pocket, it is such a good move for the government of china in order to protect their people for such schemes, such a strong decision from them :)

Rumors are coming out that China will be regulating ICOs and allowing them to start back up in 2018 only through the NEO platform tho.

As i remember this is a fake new, China had suspended for a while the ICO investment since a lot people were cleaning their dirty money into them, and when they had took this position bitcoin exchanges as well mining companies were worryed with the future as the ban could affect all of them. The only thing had made were turn those companies working without  a license a bit more secure with the legalization of their business.

It is no news that china has in recent times threatened to place a barn on bitcoin related transactions particularly on ICO but I think it will be revisited later in the future

yes this new are true that china has banned ICO but bitcoin have no affect just like this matter because bitcoin is going very famous in the whole world and after banning china ICO'S the rate of bitcoin is increased too much from the rate of that time so it means no one can affect bitcoin.

If they do they are doing a great mistake to their citizens. ICOs are the most valuable way to noobs to get on with their trading journey who are without capital..

It's not a bad idea due to lack of proper regulation. But how many really good startups will blow away because of that?

Honestly I don't think this is a bad thing I normally don't agree with China on a lot of things but ICOs are nearly always scams as well as a very easy way for money laundering which should be regulated.

Nothing unusual. they always forbid something, and then they allow it.
https://tokensale.crypterium.io/?ref=e1dfbc32baa42ba182494572

I heard some rumors that it's coming back soon. Anyone confirms?

indeed and these news are now old but i want to explain some interesting that bitcoin is decentralized currency and no one can affect their price so you can see example of china they have banned ICO but the price of bitcoin have not feel any affect and the price is increased from the rate at which the china has banned ICO

Recently, the Chinese government has considerably softened its attitude to the crypto currency and the stock exchange, trading in crypto currency, gradually began to open. We can say that China's attempt to limit or ban the circulation of the crypto currency has completely failed. Therefore, we should expect that with the ban on holding an ICO there will be some kind of relief. Most likely, ICO will be allowed under the control of state bodies. In general, such control is positive, provided there are no unnecessary restrictions.

Recently, information began to appear about that. that some Chinese stock exchanges began to again trade in a crypto currency and that the trade in crypto currency will soon resume in full. If this happens, then the next step should be to authorize an ICO, even if it is regulated by the state authorities, as it was planned earlier. We hope that China will again return to the crypto currency market.

Some Governments “financial institution,” MSBs are required to comply with Bank Secrecy Act laws and regulations, including AML (Anti-Money Laundering) requirements. They also need to comply with KYC (Know Your Customer) rules. i would love to see all ICO will regulate this rule.

WOW! Well, of course we could expect it.

Is everything depend on government?

Chinese regulators have a history of stepping in, slowing things down and then stepping back.
So no shock

Another very aggressive move by the Bank of China but also their government. Once again displaying classic censorship in fear of their citizens making money on ICO's instead of going through their own centralised channels.

Maybe, they think that it will influence badly for people...

well I can't blame them, after all there are lots of scam ico popping out nowadays, I think its a good move that Chinese Government  banned it, protecting their people from scammers.

Perhaps it has been the policy of China for its people not to fall into ICO cheating, China is the country that quickly responds to it all.

Many countries are coming out to curb the billion dollar ICO industry and even though they are trying to ban these sort of crowd funding majority of the ICO funding are still coming from Asian countries,even if they ban these sort of funding,people will always find a way to keep the ball running and there is nothing they can do about it.

I recently got back from Shanghai and from the looks of it, most information about bitcoin is being censored completely in China. Couldn't connect to this forum, my blockchain.info wallet, or visit other BTC-related websites (not to mention couldn't use Google or Facebook, but that's not as surprising).

I could access the forum using a Tor browser... but something fishy was definitely going on with my computer while I was there.

I forgot to try to look up Tiananmen Square on Wikipedia when I was there, just for the lulz....

https://media1.britannica.com/eb-media/66/91866-004-0B707093.jpg

Interesting, its mean that still people may be using bitcoin using through through different softwares. i am sure that the bane on ICOS and other altcoin will be temporary and very soon they are going to release the bane from bitcoin and people will once again start using bitcoin as they were in future. In fact crypto currency is the future of the world and every country has to accept that fact.

So what! bitcoinn price can increase even without china! Now letseee the value of bitcoin now ! I think china will regret in the future but because of china some investor or some rich people have encourage to invest more so thats why the value of bitcoin now is still increasinb.

Did anyone hear about the rumour for ICOs to be allowed in China on NEO?

I think it's strange to forbid ICO projects in China.Just enough to conduct an audit of all projects and everything will be safe, official reports will also be provided.

he copies the text directly from the article, lol :D

until when China will continue banned ICO, my prediction will release banned ICO in the next 3 years ...

I think they consider ICO as a source of income just by crowdfunding. If the owner of ICO started to consult the government agency that concerns about ICO then they should not be ending like this. Some ICOs are abusing the crowdfunding and get a few on the collected fund by overpricing the project that the ICO aims. Too bad for them but I hope that they start legalizing bitcoin again for faster growth of bitcoin.

It does not matter. We see the price still rising. It may be right or wrong China banning ICO's, but it ' s a fact that many ICO's are a scam. Now even Skype, Whatsap and some other apps are banned, just like Facebook and Twitter. That is a real bad decision, that shows the fear of the China government of losing control. However, Bitcoin and all cryptocurrencies will not suffer from governments wanting to regulate.

its definitely a wrong decision.
its probably not just because of the ICO scam that China ban it but they thought they can stop their people from using bitcoin to launder money. But weren't NEO that they intend to develop much like WAVES for the Russians.

Bitcoin has got regulated and not banned. This doesn't lead the market downtrend, several countries have the same issue of regulating the ICO to have a perfect growth. Even in a recent meeting Russian economic minister stated that it's a must to regulate and use, because those icos play a major role in the upcoming startup growth and entrepreneurship.

China is a country with non democratic society, so ICO ban is predictable thing for it.

I think regulatory moves from governments are more than expected with the growing interest on ICOs and cryptocurrencies. As some people may consider those as measures to block these initiatives, considering the increase of scams I think this kind of thing can make people more aware of the risks involved and also more cautious before investing. That said, I'm taking a closer look on application tokens that have a utility other than mere especulative growth, such as AppCoins or OmiseGO, to name a few. I believe that this a solid way to go.

The main question is: will chinese citizens actually care? ;)

i also support that many ICO is scam and they gain a lot without rule against them.

maybe they will make rule

Yes that is right that some ICOs my be  scam, but it does not mean that all ICOs can be consider as scam. I have invested money in some ICOs and got a good amount of money from there and they are even now following their road map.

The chinese government is afraid of everything that they can't control just like the ICOs.
They see a risk in the ICO projects and don't like the fact, that cryptocurrencies can't be controlled as much as the ordinary money we know. You could circumvent laws and existing regulations with them. The freedom cryptocurrencies bring is the future and unstoppable.

I think only scammed ICO are banned or how it will go about in the future. Steps will be taken to make sure Scam ICO cant be run in the first place and only legal ICO can run. This can be done by registering the ICO through some authority who will check the status and give the grantee that ICO is legal or maybe take some money as a backup so that no one cant even think of scam.
Need to be patient and see how things turn out in the future.

The People's Bank of China has declared initial coin offerings (ICOs) illegal and wants them to "cease immediately".

A growing number of tech companies are opting to sell digital "tokens" because they are quick, easy and unregulated.

The ban saw sharp falls in the two leading crypto-currencies, with bitcoin tumbling $200 on Monday.

oh. sounds not good. its trend here in our country but I think I will be think twice before investing to this. not a good news for me but i need to search more why they banned it. maybe its a scam or something. i dont know but how come chinese community banned the ico if its not scam scheme. i hope it will not affect bitcoin price whatsoever.

Chinese are known for enterprising and business well management so they know how value their money and how to deal with thia crypto. I guess China government are trying to protect their countrymen from scams and frauds from this way of business. They don't want decentralized system because its a risky one , so they are trying to create one , more centralized and safe.

This is normal in a communist country because they always want a centralized form in a government. Bitcoin is a decentralized electronic currency and it affects their teachings and laws of centralized government. Chinese people are one of the best merchants and they want to protect their people in any form of electronic currency incomes.

Hope it will end after Ch New Year

Yes it is officially banned in China because the government of China is afraid for bitcoin to be replaced the current currency of China.
That's why they banned bitcoin and many country note thinking about banning bitcoin that's why many investors are afraid in investing in it because because they are not so sure if they can earn a lot form it and if they can be bankrupt in it.

Everyone is clear that the crypto currency and the lock will not go away anywhere.
In China, in the case documents, primary sales of coins are called a tool for unauthorized collection of funds, which can be used for financial fraud. This is how China "saved" its citizens from fraud.

Wow! with this, it would really affect the current market value of bitcoin in our today because primarily ICO's plays a huge part of the bitcoin role in our world today one reason is that they are on the same boat, both of them are part of the cryptocurrency world so if anything would happen to the other one it is probably gonna have an effect on both of them. Also, as we all know ICO's are one of the major contributors to bitcoin's demand one reason is that some or most of them used bitcoin for paying their people here in their signature campaign.

In my own opinion, China my have seen some problems that's why they have banned ICO's in their place. But it's their place anyway. Its their rules. Let's just hope that ICO's wouldn't be banned in our country.

Looks like ICO fever is back!
https://coincodex.com/article/1233/has-ico-fever-returned/

i presume we should consider continue to invest in solid ICO to create a profitable dynamic of turn over of our crypto currencies

How does banning ICOs in China will give benefits to stop frauders?

ICO Qurrex no one will banned.  Qurrex - The First Ecosystem for Social and Professional Trading and Investing in Crypto Assets oriented towards a wide range of end users: from nonexperienced individuals, individual traders to large brokers and institutionalized investors.


https://qurrex.com/ (https://qurrex.com/)

Maybe you do not saw the post title or the post .
the post about Chinese ico . china banned there all ico's , and never will come from china. 

There is no benefits, the whole point is to make it look pretty to be negative about Bitcoin. They could make it legal someday.

This could be better for Bitcoin? there are to many scam coins out there, i do believe they need to be regulated

this is insane, but i do agree it does all need to be regulated

ICO are a bad idea and most of them are either scams or leave the investor with the same result.Investors lose their hard earned money on the scam ICOs. So it a nice step taken by Chinese Government.  :)

The government don’t like the amount of large profits that have been made.

the ban is issued because the Chinese bank has asserted that ICO has committed many violations, fraud and illegal fundraising.
the bank also informed that ICO has disrupted the economic and financial order of the people of China. but this is just a kind of ban only the entire people of China may not be able to stop using bitcoin .. because ICO is where they get money faster ..

I think it's not for long. High-ranking people in China's policy support cryptocurrencies, there is an interview. Therefore, the adoption of a crypto currency is a matter of time.

This is nothing new that regulations are coming to the crypto world especially to ICO's. There is and was so many scam ICO that I'm not surprised that few countries begin to keep eye on them. Especially China where 80% of new ICO started in the last few months. They are known for biggest involvement in mining and all other crypto related businesses. Don't understand why they banned ICO's permanently? This is very good opportunity for honest projects to get funded and start. I was sure that they will only regulate ICO adding KYC check and other restrictions. Now they are losing a lot of money which could be made in the future from taxes and other sources.

ICO are used to raise funds, and like any fundraising strategy, they are abused. Yes, this is not a shortage of the technology itself, but noone has had time to develop standards for ICO, so the countries protect investors and their perceived economic interests as they can. This prohibition affected directly only the inhabitants of China. In the global market this did not affect, as some technologies, the development of which is exponential, can not be stopped. Neither regulation nor social resistance will stop this progress - it will continue as long as it ensures the advantages of price and convenience, and until people's confidence is exhausted.

I don't think that China has anything to do with the encryption market, but the price of this market has fluctuated greatly after the news, and it has recovered after a period of time.

There are many countries in the world that welcome ICO, and there is no way for a Chinese market to completely ban the ICO.

Good riddance! Now that Facebook and Google are putting a stop to the ICO ads as well I am finally free from reading about these useless run-of-the-mill-not-good-for-anything coins on a daily basis. ICO's are pure scam projects whose big promises for changing the world go up in smoke not long after the 'devs' have completed their investment quota.

This was happened few months back but however the recently appointed Governor or chair person of PBOC having positive view on digital currencies. And not only that they are trying to create a new digital currency .

If this information is truth i guess all crypto market of China migrate to the Hong Kong, because they have another government

I think it's a good thing, because there are so many ICO scams, the Chinese government wants to protect its people from fraud. that's the right decision :) :)

Yes, the Chinese government has now banned ico, which is not allowed in China. Because many fraudsters have cheated many people through ico, and the money is hard to get back, the government has chosen to ban ico for such a thing.

Well, blockchain is a technology. there will always be a way out.

It can be a problem for different ICOs for this could be a threat, for this is can be a start of losing some people and investments.Because it could lead for the people to doubt if ICOs could still continue and survives.

Ban is not a solution. Yes we know lots of ico announced to fraud people. But still there are quality and well designed ico projects are exist.

It is a significant influence on the Crypto market. China is the most significant investor in the world, with many Crypto giants. China's central bank has issued a ban that will push the market down quickly, but many projects can be called for capital in another country to ensure legitimacy so do not worry.

I think many news seems to be that they are banning because they want to form regulation for ICO. Need to wait and see what are the rules and regulation coming updown the line. ???
i have come across the ICO seems intresting they are sharing up 70% of the trade commission with the token holder check out https://binex.trade/

A regulation is not a ban. They are putting regulations in place to prevent people from being scammed because a lot of ICOs now are just here to scam people.

I do not think so . As far as I know, China is a country banned from bitcoin deals and ICO projects. And it is not because of fraudulent ICO projects. but for many other reasons.

With the announcement of the Chinese state in the past, the ban on the IOC in this billionaire country is entirely possible. However, I think that China may have agreed with some other countries, such as Russia, to build their own electronic money on a blockchain basis so they can do better management. for the Cryptocurrency market.

ICO are being banned everywhere. Legally put they are in violation of a bunch of securities laws because what they're all trying to do is sell unlicensed securities...

Nobody wants to touch that because it carries wire fraud charges and money laundering or terrorist charges potentially as well.

are you sure about this ? i start to doubt if there are some news about china
because last time i heard the news about china, it turned to be FUD that was spread.
anyway, because many scam ICO, it is normal that it got banned.

The news is absolutely legit. But the ban is just China's way to give them time in order to come with a regulation for this. I'm seeing this ban will be lifted once they come up with a way to properly tax it of course. ;D ;D ;D ;D

I just think ico is just not theirs because china wants to promote their ico project rather than the other ico that's so messy because they know so much scam so they know they do not want the ico

With the declaration of the Chinese state previously, the restriction on the IOC in this tycoon nation is completely conceivable. In any case, I imagine that China may have concurred with some different nations, for example, Russia, to assemble their own electronic cash on a blockchain premise so they can improve the situation administration. for the Cryptocurrency showcase.

Yeah, i searched some news on the weibo , they are drastically against Bitcoin , they don't accept Bitcoin in their method payment, investment market or even holding , storing , mining purpose also. This is really a disaster move of China in their crypto market industry.

Nowadays, there are many Chinese ICO projects and scam rates are very high. I think China has done the right thing. If the ICO of China continues to grow, so many people will have to lose money for ICO scam

In China in principle very strict laws and orders therefore I am not surprised at all that even ICO there under the ban. The Chinese government and the cryptocurrency are not welcomed.

I hope no more country qill ban bitcoin and crypto or even ICO because they have effect to us like the price decreasin. Because those people who are live to china no choice to sell their coins or token..

Yes their government has done the right thing to protect their people however totally banning ICO is not a good thing to do. Not all the ICO are scam there are so many projects that can bring a lot of advantages to the community. The alternative way is to make a strict regulation about that and maybe create a department to keep an eye on those investments.

This is really bad, i couldn't believe that China finally did this you know what majority of miners come from that country so whatever happens out there it will affect the industry.

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its just a mess because china has a large population

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Is this news legit? Shall we see it broadcast in international news agencies? Because I think maybe Bitcoin and other crypto currencies are a very hot and entertaining topic. If it's true , then it is a sad story, but untill then, let's just wait for the official announcement.

Chinese citizens have been excluded from participation in ICO for some time now so essentially it is old news rehashed. If you look at all the ICO whitepaper or Terms and COnditions they will explicitly state that it is not available to Chinese or US citizens.

As i remember this is a fake new, China had suspended for a while the ICO investment since a lot people were cleaning their dirty money into them, and when they had took this position bitcoin exchanges as well mining companies were worryed with the future as the ban could affect all of them. The only thing had made were turn those companies working without  a license a bit more secure with the legalization of their business.

Oh my goodness is that true? Even if so i am lucky that i wasn't living in china because joining icos investing in them and doins work with some bounties they got is what i am doing in order gain profits in here. Maybe the Chinese banned it becausethere are a lot of complaints about scams because recently i get scammed in an ico which is savedroid which kinda suchs but that is the thing in here that is the risk but i wanted to sue all of them though but i cant because i am just a normal peson.

China is a country that has grown and will dominate the international market, China has already seen the results of bitcoin and they are very eager to carry bitcoin, if not wrong China already holds a few percent bitcoin.
and be very careful when china has full hold of bitcoin.
maybe later there will be more besides bitcoin which will be controlled by china.

China banned ICO's because they want to protect their people to get fraud or  to be scam.NOt all ICO's are scam,there are ICo's that has also good and give a good profit.

I’ve heard that ICO is not official banned  in China, it’s just temporary. But if this is official, maybe it’s really a bad new ever. It takes a huge impact to the value of crypto market. As you know that China is one of the big countries where gathers so many investors. China government hold their strict rugulation to take bitcoin out of the world, and this is crazy thing. Maybe some Chinese meet difficulties in do investing.

China has enacted a major clampdown on how citizens can legally access and trade cryptocurrency in the past six months.

September saw the second exchange shutdown of 2017 become a permanent moratorium on crypto-to-fiat platforms, with lawmakers signaling earlier this month they would seek to end “centralized” exchange activities altogether.

September also saw a sudden halt on ICOs, with projects which had already accrued funds but not launched tokens being obliged to return investments.

Against the current backdrop of additional clampdowns on mining activity in China, Yang’s words thus appear surprising.

While confirming over-the-counter and overseas exchanges “would be strictly regulated,” local news outlet 8btc reports that Yang added that the remedial regulatory climate in China was ostensibly meant to weed out “bad” ICO projects to allow bonafide offerings to flourish.

Investors into ICOs must take full responsibility into their actions (that is to say, if you lose your assets through such "investment", no laws would protect you)

jes but also the ico companies wont have any protection, imagine iota, and its recently revealed iota charging gas stations, without a law.

there are still many countries that allow ico, we need not worry. may ico not belong to them because china want to promote their ico project than others ico is very messy because they know so many scams so they know they dont want ico

Yes, because the ICO is a latent place for scam criminals, they are likely to be good for the market today, and I hope governments will tighten on the ICO. There are rules for ICO projects now.

What I understand,  China didn't ban ICO. They banned fundraising using cryptos as it has become a major problem. Companies investing in cryptos in China have made close to $400 million doing this.

A prominent committee led by China's central bank recently announced an immediate ban on ICO funding, which has badly affected the economic and financial order. The committee has prepared a list of 60 exchanges which will be subject to proper inspection and also report.

Oh that is so unfortunate. It will definitely will have a really bad effet on cryptocurrency and it will cause the demand to go down so is the price of bitcoin and every other cryptocurrency.

What kind of participation/impact does China have on ICOs right now? Not sure if that's a fair question, but on average, what % of investors of an ICO are coming from China?

Bitcoin has got regulated and not banned. This doesn't lead the market downtrend, several countries have the same issue of regulating the ICO to have a perfect growth. Even in a recent meeting Russian economic minister stated that it's a must to regulate and use, because those icos play a major role in the upcoming startup growth and entrepreneurship.

scheme ICO who has earned funds US $ 1,6 billion mentioned call a threat to the industry financial China. therefore, many financial institutions and investors silence - silent drain the funds illegal to virtual currency of the. all agencies involved in the ICO sanctioned a ban on operating

China has overall restricting policies regarding sites, apps etc, it's no surprise for me actually)

I did not expect China to ban the existence of Bitcoin. To the extent that ICO was forbidden, it must have been its goal to keep the Chinese people away from the Cryptocurrency World. I am really confused as to why the Chinese Government can be this tough, but many Chinese people depend on Bitcoin because they feel they have a new job. But this is even forbidden and their lives will be no more trouble. Hopefully, there is good news from China.

I think nobody needs a lot of coins, they do not even have practical use. I think after China more countries will ban ICO and even if they do not forbid it, they will definitely have some strict rules and regulations for ICO and there must be one I think

With the declaration of the Chinese state antecedently, the restriction on the IOC during this power nation is totally conceivable. In any case, I imagine that China could have concurred with some completely different nations, as an example, Russia, to assemble their own electronic money on a blockchain premise in order that they will improve true administration. for the Cryptocurrency showcase.

I think China only banned many scams ICO projects. Do not worry. I think that in the coming years potential ICO projects will emerge in the cryptocurrency market and China will actively participate in such projects, which will help China's economy grow rapidly.

It's a good move to protect the investors, these ICOs are springing up everywhere now and some of them are not serious about it, they are just there to scam people. If only all ICO are genuine, then there won't be drama like this but then, it isn't possible. Some of them are conmen.

I think the Chinese government has made such a decision to protect the citizens of their country from fraud. Because of numerous fraud and corruption with ICO citizens. This has taken such steps to protect the country and the nation. An ICO developer puts names on the official list to legitimize their company but can do anything bad.

The government are protecting investors. However they are not giving the opportunity that an good ICO can create. They will lift the ban eventually and put some sort of regulations in place.

I think, which is bitcoin is very popular. So BTC are not dead without china.

With the declaration of the Chinese state previously, the restriction on the IOC in this tycoon nation is completely conceivable. In any case, I imagine that China may have concurred with some different nations, for example, Russia, to assemble their own electronic cash on a blockchain premise so they can improve the situation administration. for the Cryptocurrency showcase.

I am just searching for something to read and come out with this article. What an irony, when this article says that ICO is officially banned in China before, but now, 2018, Chinese are one of a hell investors of cryptos.

ICO is considered a fraud by many people but there are some really legitimate ones. The right choice for china because this ICO can target people in their country because there are many investors crypto currency in China. 8)

This thread was started last year and now we can see that China came to the same conclusion as USA, regarding to ICO regulations. Any ICO now have a special checkbox "check to confirm that you are not USA or China resident", so in my opinion this is only chinese people's headache.

According to Caixin, the ban applies not only to new primary distributions of coins. In addition, organizations and individuals who have already conducted ICO, will have to return the funds to investors.

All currency issuing countries are afraid to loose their monopoly regarding money. They will watch how the blockchain universe grows and will do everything in their power, to keep it in check.

The bad news from china makes many people panic selling crypto currency assets. On that occasion I took advantage of this good moment to buy cheap coins. China has never tried to reject the bitcoin circulating in China but see the reality now. The Chinese government just wants to protect its citizens from ICO Scam. 8)

How does banning ICOs in China will give benefits to stop frauders?

The Chinese government just want to protect their people from fraud people. But we all know that not all ICOs are fraud. Maybe regulations and policies can be applied once the Chinese government contemplates every detail and action needed.

In some way I'm kind of glad this is happening due to all the scams out there, but I'm not into more regulation though.  :)

While you wait for translation go look at the prices of NEO and BNB. Neo is down to $17 dollars from like 34 today, and BNB is down to .61 cents from $1.70 or so today. Absolute bloodbath.

This is certainly very sad, when cryptocurrency industry is growing rapidly precisely china banned ICO government. I hope this does not impact too much and ICO continues to grow in the future.

Its very sad because china is the biggest population in this world maybe if the china will not banned may possible the bitcoin increase but the ICO officially banned so the industrial transaction is low unlike before.

The news you bring is quite practical, but I think in China they have quite a few ways to do everything

Chinese country is the most complicated and many rules, I'm not sure this rule will make chinese people stop making coin (ICO). Chinese people are so creative, so even though in banned they will continue to work because this is profitable.

There is always a workaround. Anyone who wants to invest will invest. Not surprisingly this news. But we notice that after this news it is heavily affected in the cryptographic market. As we know the market will return at any time. There will always be an exit. I see this ban will be lifted when they offer a way to tax properly

This is to protect china people being scam.. Because some of ICO's is scam not all but so much.. I dont think they control the people of china to create any ico. It's easy to say that it's banned.. But it's difficult to do.. Because they have a large of people they control it that quickly

Every country is free to set its own policies. Every country understands the best for its country. I will only convey a bit of my analysis if China really prohibits ICO. China is one of the most influential countries in Asia, including in the field of currency technology (crypto currency). China as a country that has the most population of this world. Most of its people are as players in crypto currency. I can not imagine if China does not follow the business rules in crypto currency then the market will look down.

Chinese are known for enterprising and business well management so they know how value their money and how to deal with thia crypto. I guess China government are trying to protect their countrymen from scams and frauds from this way of business. They don't want decentralized system because its a risky one , so they are trying to create one , more centralized and safe.

Well, its not really a matter.  ICOs will be regulated in the end in every country.

When I heard this news, I was afraid that the neighboring country of China will banned ICO, but as of now it is not. And Im glad that we will not suffer as what have China did. Because we all know that ICOs have a lot of benefits if give us. But I think China did this to prevent people from scammers and such.

When I heard this news, I was afraid that the neighboring country of China will banned ICO, but as of now it is not. And Im glad that we will not suffer as what have China did. Because we all know that ICOs have a lot of benefits if give us. But I think China did this to prevent people from scammers and such.

I think thevreason  that last time were so maby scams, hovweverit is not so honest for really goid projects. Ban it is very strict way. I think will be better to invent new solutions of scam detecting or ico verification.

It seems like it's a policy of the Chinese government to protect the citizens from fraud with the ICO projects. Because there are many ICO projects created by someone to treat investors

Well this is a big blow to NEO because without ICOs the growth of NEO will be stuttered but i have been a victim of many ICO scams so i will say this is a step in the right direction, until there is an authentic way of identifying a good ICOs many countries will start banning ICOs 

It often seems to me that the ico companies in China are wearing everything was very specific, since all these manipulation of news can be created artificially and the person in this matter is the Chinese government. in any case, until now most of the Chinese companies were not only promising, but also honest.

That's, why market is encountered dump right now due to the issues but I think governments in china has a reasom why they banned but unfortunately it always have solution to operates the people in china community as they still believe on the possibilities. So better to wait for the things.

ICO are a bad idea and most of them are either scams or leave the investor with the same result.Investors lose their hard earned money on the scam ICOs. So it a nice step taken by Chinese Government. 

Given that there are so many fraudulent projects, I'm not surprised in China's decision.

I believe it's an approach of the Chinese government to shield the subjects from misrepresentation with the ICO. As we probably am aware there is numerous ICOs turned into a fake, and China's acting rapidly to make controls on it. Nothing terrible can happen if each ICO engineer records their name on the official government rundown to wind up a legitimate organization. CMIIW.

ICO is not a bad idea at all. The problem is that it is difficult to chose where to invest since there are tons of scams and no reliable rating system. What we have now at the market is corrupted and unreliable rating system that should be replaced.
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Although the ICO was banned in China, I am sure that most Chinese crypto investors have found a way to circumvent this ban and are still investing huge amounts of money in the crypto currency. Do not you think so?

China bans crypto also, so its logically that they have banned ICOs.. I don’t think that it is good, but this is a way to control everything. Since it is almost impossibly to control crypto, they ban it...

After reading, I agree with your opinion.  Everything will be better if it becomes transparent and accessible.

I am glad that China has set an example and banned ICO. it's time to fight the scammers. let them officially register and then come to US with an ICO.

I read the news four days back, People's Bank of China is by all accounts extremely worried about the high dangers that ICO ventures convey to financial specialists. Up until now, the market for digital currency in China is as yet not controlled, ICO tasks can undoubtedly call for cash-flow to be made all around, and whenever, without a supportable Blockchain stage. This can posture dangers to potential financial specialists. Numerous organizations can utilize these apparatuses to prepare genuine cash through virtual money as an approach to go around the current laws and controls in the budgetary market. It is additionally conceivable that ICO will cause another rise in the virtual cash advertise.

I read the news four days prior, People's Bank of China is by all accounts exceptionally worried about the high dangers that ICO ventures convey to speculators. Up until this point, the market for cryptographic money in China is as yet not controlled, ICO activities can undoubtedly call for cash-flow to be made all over the place, and whenever, without a feasible Blockchain stage. This can posture dangers to potential financial specialists. Numerous organizations can utilize these apparatuses to assemble genuine cash through virtual money as an approach to go around the current laws and controls in the monetary market. It is likewise conceivable that ICO will cause another rise in the virtual cash advertise.

This is information that makes investors worry. The money market will fall. Coin prices must fall sharply. China is a major market in the world. The ban on ICO projects in China will undermine the electronic money market.

The ban on ICO in China has had a strong impact on the price. But it is interesting when China will allow ICO, how this event will affect the cryptocurrency market.

And what about Hong Kong, the Chinese will not be bored for a long time . And so it is quite logical, at least someone protects its citizens.

It's relatively reminiscent of the PBOC restricting Bitcoin. So I figure they'll need to boycott ICOs another dozen or so times, as well. Mushy

This wasn't normal from me. I figured it was all not yet decided. I was shocked at the plain hands-off approach that the SEC took ("perhaps a few tokens are securities, yet we're not doing anything at this moment") and I thought possibly a comparative approach would be taken by different governments. I figure not

No love lost! Since Facebook and Google are putting a stop to the ICO promotions too I am at long last free from perusing about these pointless common not-useful for-anything coins every day. ICO's are unadulterated trick extends whose huge guarantees for switching the world go up in smoke not long after the 'devs' have finished their venture share.

Stunning! with this, it would truly influence the present market estimation of bitcoin in our today on the grounds that fundamentally ICO's has a colossal impact of the bitcoin part in our present reality one reason is that they are on a similar vessel, them two are a piece of the digital currency world so on the off chance that anything would happen to the next one it is presumably going to affect them two. Additionally, as we as a whole know ICO's are one of the significant supporters of bitcoin's request one reason is that a few or the vast majority of them utilized bitcoin for paying their kin here in their mark crusade.

I cannot blame them, there are way too many people getting scammed these days all in the name of ICOs. If they are not controlled then these scam ICOs will be the things that lead to the death of the cryptocurrency market. They bring out scam coins into the market just to take out millions when they get enough people to invest in their scam projects.

if the Chinese authorities allow us to invest in ico, a new boom for Ico projects and a big profit awaits us. I really hope that China legalizes ico

The People's Bank of China opposed the use of crypto currency. ... It is worth recalling that last year China was banned from mining, ICO and direct deals between the yuan and bitcoin. It is noteworthy that in the Middle Kingdom there are more than two thirds of all mining farms in the world

In my own opinion china government do not accept crypto due to they are number one traders of product in the world eversince and they dont want that cryptocurrency runs or be part of their business, china is securing their banks even in money laundering i think..

In spite of the fact that genuinely productive, ICOs are thought about tricks by numerous however there are not many that are really authentic. Simply the correct decision for China on the grounds that these ICOs are focusing on the general population of their nation on the grounds that there are numerous cryptographic money speculators in China.

We all know that some of the existing ICOs today are scammers/huge failure/fraud. I think the government banned those ICO in China to protect their citizens or potential investors on those ICOs from such activity.

Indeed, there are already so many countries that are doing the same thing as in China, for example in the US and this is mostly done by their government not because they have no reason, the reason is that there are too many ico scams, and many people who become victims report the matter to law enforcement, but not much can be done by them, so it was decided to ban ico

It doesn't make a difference. We see the value as yet rising. It might be correct or wrong China restricting ICO's, yet it ' s a reality that many ICO's are a trick. Presently even Skype, Whatsap and some different applications are restricted, much the same as Facebook and Twitter. That is a genuine awful choice, that demonstrates the dread of the China legislature of losing control. Be that as it may, Bitcoin and all cryptographic forms of money won't experience the ill effects of governments needing to control.

As I recollect this is a phony new, China had suspended for some time the ICO speculation since a ton people were cleaning their filthy cash into them, and when they had took this position bitcoin trades also mining organizations were worryed with the future as the boycott could influence every one of them. The main thing had made were turn those organizations working without a permit more secure with the legitimization of their business.

Even it so sad for the bounty hunters I think they are just concerned for those who scammed by some ICOs. But this could greatly affect for those those bounty hunters as well. I hope they will also do other things that will help bounty hunters and investors.

I am so happy for this, there will be less not so profitable icos and scams will be there rarely I hope. Maybe it is the really right decision to solve this problem.

I am so happy for China, Icos will not bring us to the bright future and I am sure that we have to work with cryptocurrencies to save cryptomarket from the crashing.

Good. We all have to realize that icos are not helping the industry at all, instead all they do is to take out money that is already here. They are one of the major reason that the prices are going so low. They are filling the market with scam coins and then taking off with people's money, reducing trust in the coins and also reducing the amount of money in the market.

Yes, recently a lot of ICO scams are going on too embarrassing its a good move from China. At least there should be regulation if for example
 the ICO developer will write down his name in the government.

the right thing that was banned from ICO. too many scams have recently appeared in the cryptocurrency world. already many countries have banned ICO

Beautiful Chinese country the most difficult and a lot of rules, this rule will force the Chinese to stop doing the coin (ICO). The Chinese people are so creative that although banned they will continue to work because it is profitable.

I don't know how authentic this news is well if it true I think it's a big lose for citizen of China who are actively involved in cryptocurrency I really hope the government have a change of heart

It does not actually matter if china banned icos because bitcoins still managed to reach $19k dollars before the year ends and that is the reason why you should invest today even though the market prices are dropping.

Not surprised, if you really look at all of these ICOs you will see that most of them if not all are just scams, there has to be ways implemented to make sure that they can stop the rising number of scam ICOs. We really do not need new coins, there are already thousands of coins in the market already that we do not know what to do with. I support this decision.

I thought that China will be more far-sighted here, ICOs are good for getting investments but from the other side they also can be right in the way of scams and other bads.

Despite the ban placed on crypto by China, yet we still has bullish market that same year. Which means if any other country decides to do the same, it will not in any way influence or affect the crypto world. They are all just operating in their various niches, which cannot affect the rest of the world. Although, the is one of the tools that fudders employ to bring a breakdown in the market. Despite all the news and rumours about crypto this year, coins will still rise.

I am happy for them so much, they will have less amount of scams and investors will take place in a lot of promising projects and ICOs will be forgotten very soon I suppose. There are not worth to be on the cryptomarket because it is very hard to trust them.

ICOs are indeed banned in China, because China is a lot of fraud.
All ICOs there are almost average cheats.

But unlike the European countries that are open to ICOs, hopefully China will also open an ICO in the future with a legal body that protects its consumers.

- One of the reasons was ICO being banned was that there were many fake or scam ICO which would harm traders and other users.But I also don't know what is true as there are many fake news about it topic going on,just to start panic among users.China had done the right thing I think.!!!!

The government takes care of its citizens and this is correct. everyone has his own methods.

I think that's a good news, because I do not trust ICO projects developed in china, but it's bad news for the pennies that will affect the price of the pennies all over the world.

If China wants to reconsider the opening of the ICO, then I think there should be a necessary regulatory body in order to avoid those scam icos, in China, in addition to a few projects such as NEO, there are too many icos are scams.

Even so, the background from China is using local products from their own country and that is why ICO or blockchain systems are not from their own products

I think this is normal. because even before that China had banned crypto so I wasn't so surprised by this. I don't think we need to think much because there are still many countries that support crypto.
I am sure that China will eventually support crypto if crypto is increasingly accepted by the public.

I do not understand why the authorities of different countries prohibit cryptocurrency and everything connected with it.

If China does not ban Bitcoin and crypto, I think Bitcoin will easily reach $ 20,000 faster than ever. In addition, I think the Chinese government is forbidden to lose the money they invest in the ICO, they are introducing the law to the crypto

This news was made about one year ago (2017-09-04). Though not sure if it is genuine. However, considering the growth of bitcoin last year, then, I don't think the news affected the growth of bitcoin. The letter head of the manuscript of the news shows that it is Bank of China. It is obvious government banking may not like cryptocurrency growth (personal opinion). The philosophy behind the invention of bitcoin is: 'Be Your Own Bank'. Though we all have various reasons why we are into cryptocurrency. Bitcoin have advantages and disadvantages, but I think the advantages outweighs its disadvantages.

In my opinion, this is not a problem.
Chinese investors can also make ICOs in their chosen countries such as Estonia, Malta and Singapore.

Cryptocurrency is Digital ,so everything Gonna be OK .

Because the price of up and down cryptocurrency is uncertain.
While the government and financial institutions need certainty in order to manage their finances for the future.
If it is profitable then it is good for the country and if it loses it is a sadness for the country.

This is not surprising, in China, very strict laws and what can I say, even if they have the Internet under strong censorship     

I understand what they made the decision. In fact, ICO has no protected to the investor. The regulation is needed to collect the money. I know it's against the spirit of the Bitcoin philosophy. But, the world is changing. If I am an investor, I want a protection for my fund. I believe the cryptocurrency will find the way.

The Chinese are smart and rational state managers, so they know how to behave with cryptography. I think the Chinese government is trying to protect its people from fraud in general and fraud from ICO in particular. They do not want a decentralized system, no matter what China is a communist state.

It is no surprise to see that they have banned them in china. Just the sheer amount of the scam coins that are coming into the market on a weekly basis is alrming and if something is not done to stop them then they will keep growing until it gets to a point where no one is willing to invest in any of the coins again which would mean that the icos will die out.