Bitcoin Forum

News just in. Seems like the ICO slaughter is in full effect in China. But I guess most of knew that China issued a ban on ICOs and that exchanges who dealt in ICOs would have to delist or cease operations

Yunbao just delisted QTUM, NEO, RHC, MXI and MRYC

https://www.yuanbao.com/news/detail/?id=1576

all these new scam ico's will not have exchange so basically people just giving these scammers free money. many exchanges like bittrex will not list any new ico.

I don’t even know what that exchange is. Do people really use that exchange to purchase those coins or did they just get rid of them because they weren’t doing well?
I haven’t found an exchange (not stating that there is no exchange doing it) that delists a coin that is within their top 5 trading pairs within the site. If they lose that money then they could just change where they are hosting the website and move to another location since they are making a lot of money from it. It doesn’t really make sense right now, if China decides to switch their views then those exchanges will be pissed.

Well the major exchanges in China, from what I understand, don't trade in ICOs. Its only the smaller ones that have previously allowed ICOs to be bought and traded, they have received a notice from chinese officials that they have to cease trading and allowing any trade with ICO>CNY to stop.

Uncertain what the impact will be, but right now all coins have been feeling it since yesterday. Long term, probably not much, any chinese trader who wants to continue trading can do so by exchanging CNY to USD and trade somewhere else.

But short term it looks like all coins are taking a hit again, much like last weekend.

It is temporary ban to protect from frauds more here http://www.coinfox.info/news/7582-china-to-allow-ico-after-deciding-on-licensing

Chinise are working on his regulations

This is very good news! so when QTUM, NEO, RHC, MXI and MRYC is listed on chinese exchanges again, they will rise. That bad news has just turned a good opportunity for traders!

Even if China actually bans some ICO's, there will be still demand for coins. Hence all these chinese will go to exchanges to buy these ICO coins at a higher price after the ICO is finished and coin available in exchange for trading.

nice point. i'm also trying to buy NEO from dip. it would be perfect if it goes to 17.5$ . when Neo goes back to Chinese exchanges it will definently rise again. 

this is good news, the China authorities have stated that the current ban is just temporary. Some good and not so good news on that report but mostly good

What if the Chinese government choos to stopping trading with CNY, I mean that you can not use CNY to buy anycoins officially, so do not under estimate the effect from the ICO ban.

I think that is not true, if the Chinese government stop trading with CNY, that means the China will kill the blockchain technology development in China, also it is not wise to do that since more and more counties has realized its value and future.

I do not know why they can make such a regulation?
They do not think that crypto can change the economy of its citizens and can reduce the number of unemployed.

Is this regulation only temporary?

I think the Chinese government plan to stop some Chinese local ICO project scams, there were a lot of crazy ico projects there, just some simple white paper and raised a lot of money, so I think the regulation is temporary.

oh.. so is the real thing. a very appropriate step by the Chinese government, to protect bad local ico. but I think the regulation can be changed so as not to harm ico or a good project from outside China. hopefully the problem in china soon get a good solution, so as not to harm many parties inside chinese as well as outside china.