Bitcoin Forum

According to https://t.me/oneminute_crypto_news and https://twitter.com/EricBai_89, in a public interview by Chinese official web media, People's Web, a famous scholar Dong Yang released that Chinese SEC is conducting the legal research to legalize the ICO and the ICO will become a legit tool of crowdfunding soon.

Many predicted that China will not be able to stay away from the world development in the field of crypto currency for a long time, as this country will lag behind other countries, as well as lose the opportunity to make a profit. So sooner or later, however, this should happen. This is in any case a good news, as the ICO process is going to be regulated there, and it is already ripe for a long time. This will encourage other countries to regulate ICO projects. Recently the first step in this direction was taken by France, where the Minister of Finance instructed to prepare the relevant normative document.

They are banning ICO and even Bitcoin currency so many times before but the truth is as one of the most advance countries they realized how important and how huge will be the opportunities that will going to lost if a certain country will not grab the crypto currencies existence as investments. Sometimes i will think that there just banning Bitcoin and other crypto currencies before because i believed that they will just want to manipulate it in order to control the crypto currencies market but they always failed.

I always wonder and salute China for making a brave steps ahead. Just take an example India. Though China is large populated, they manufacture their own products and develop the country wealthier day by day adapting to new technology like blockchain and inventing its own crypto currencies. Where as India, Its too fully populated, but allows other nations to rule over the market and never takes a step forward to adapt new things like blockchain and etc. The leader focuses on piling up his wallets with more money and assets. Very sad.

To be honest I dont really believe it, the China government always change decision and seems like want to take control of everything, if the news is true, I still brlieve it won't stay for a long time, the government actually never want to approved crypto but since the crypto could be the future currency, so they take a step back and learn about it further

But I think by regulation of crypto currency they will get more benefits than by banning it because china is one of the most pupulated country so if the crypto currency get it into the use there then they can get more taxes than now which can be used for the country's development.But as you said china is changing its decision too often so there is no assurance that they will make it legal.

china apparently have strong power to influence development of cryptocurrencies because if the negative news come from china then the price of bitcoin will suddenly fall and whether that's valid news or not because china already banning crypto and their crypto exchange also were shuttingdown because china government want protect their people from scam ICO however if this is valid news then the price of bitcoin will rise up soon and plenty upcoming ICO project will appears which is good for us

I guess it's kind of good that they're acknowledging the issue, but I doubt that this is going to happen anytime soon. This "research" could take years. You never really know what the Chinese government is up to.

More importantly, they still have their capital outflow problem, which is the primary reason they decided to ban ICOs in the first place. Even if it did get legalized, I'm sure it will be accompanied by very heavy regulations.

If you properly develop the ICO, it can help China to compete with the US in the development of its own technologies. The Chinese economy is developing at the expense of cheap labor and poor environmental control. It seems to me that the Chinese government should consider how not to miss such a chance.

I do not think so as there are many rumors about legalizing ICO. And even if they are going to legalize it, restrictions and regulations are going to be put as well, not to mention that China always strives to fight against these ICOs. I do not think they will give up now. But perhaps in the future. Maybe if these unemployed people who are working online to gain coins will revolt against the government which is hard to do, but still they need to do something about it.

Well, I do not think that china will legalize ICO and particularly in this period, because there are widespread issues in that field, due to the global banning, especially in internet (Twitter, Google, Facebook) and the governments from the other side. Moreover, there are many fake ICO'S (Scammers) and they spread in everywhere.

Furthermore, If china will find a solution to those problems and especially the fake ICO's, then it will be possible to legalize ICO in the near future and I think it will be achieved soon,  because china know that due to ICO and the era of cryptocurrencies in general, it will have a great importance in the development of the economy.

So,People make concrete suggestions regarding policy changes,ICO issues are particularly urgent today in china and as i know the majority want it to regulate by more liberal approaches,to realize their economical-social activities as they want,More widely... I said the same a long time ago, when china was baning it.In my opinion china would come back to the business and I hope it will be very soon,because we live in society where is unlimited demand and people want to do everything good for their own-well being and that's why I think people's will will be more powerful than others.

A telegram channel isn't an enough proof to say that China may legalize ICO soon.
And there's the word "may" so it is still uncertain and it's better not to assume anything with it.
Can anyone show that proof from the Chinese Sec that tells that they are conducting a legal research to legalize ICO?

To be honest I dont really believe it, the Chinese  government always change decision but in the other hand we would never know.

If this is a valid news that would be very good for the crypto market. China would make a smart move with this. Every country that gets into crypto would benefit. They are concerned about control, but that could be regulated inside of each country. Not my favourite thing to say, but it could work for China too. They are producing computer and phone hardware like crazy why not the software and blockchain too.

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But they already forbid bitcoin before, why they still interest on bitcoin technology ?

For me personally it will bring back bitcoin glory just like last year so just like I said, the time will reveal how further bitcoin will keep going as I can see bitcoin will keep growing exponentially !

More Details Pls

If it become legal we may find the big changes in the market positively. Please keep on the chinese news sites bro. Since the China communist I was really fear about their move on last year August month.
They tried to ban the crypto currency completely but due to crypto investors pressure they have regulate the bitcoins trading and no stopping completely yet. Hope it may become a legal currency Japanese done already in the market.

Just like many members of this forum, I would rather believe it when it is already announced by the government officially. As of now, this is just speculation though a positive one. We all know that the Chinese government decided to ban ICO all because it can be something they can not control and they are afraid the platform can be used for illegal purposes. In case the government has a change of mind and would later on allow ICO under a very strict regulatory framework then I myself will welcome the development but as of now I would just not pin any hope on it.

It may be difficult step for the government to take considering the past that China had came strongly against it and had banned the ICO. They had their own reasons for banning it and thus market did fell badly after their announcement So not sure now why will government reverse their decision on this. Will wait till further announcement.

LOL. I have a good chuckle to be honest. PBoC already shuts it door on crypto and ICO and now they are making a legal research to legalize it? What is going on in this world? Seriously, I will take everything with a bag of salt coming from China, just like what I have been preaching for almost a year now with Russians. Although nothing is permanent, but I'm 100% sure that Chinese will not legalized anything related to crypto, heck they might even put a total hammer ban that's why Bitmain is ensuring that it will continue its business by eyeing Canada to moved its bitcoin mining farm. And if they did changed their mind, what do you think will be the main reason for a sudden U-turn again?

I don't know how it's going to be, but I like that cryptocurrency projects are leaving China. This is an authoritarian country and it seems to me that the entire cryptocurrency community can not fall into dependence on unpredictable decisions of one person. I am for mining, stock exchanges and all the rest of the infrastructure of the cryptocurrency was distributed around the world.

Yes you are right,but I think its inevitable process not only for China,its about all countries which don't have good dependence about crypto issues.People remember about ethereum and other good projects which were very profitable for investors,For me its not an argument that ICOs maybe scam,Everyone has their own choice and we need more observations and researches in another situation you will be loser,that's an axiom...We don't have proofs but we have expectations because we know that developed countries do everything for their own well-being and this process will be only profitable for their economic,Thats fact...

Why wouldn't they? If this is their way to make their own companies have an easy way to collect some cash, they will really legalize it. I mean they are only stopping their own citizens on creating their own ICOs, now this will be their time to have their own tokens. This could be an interesting thing to see as a lot of new coins will appear in the market knowing that China will be an available target for them.

This should accept the fact that Bitcoin is not stoppable that Bitcoin enthusiast will find ways on how to continue trade and invest. Except if China will apply a harsh move to ban it then maybe it will be totally a stop to their country. Now we should consider it that they give up the chase and start to realized that Bitcoin can't be stop but can be regulate and treat it as advantage for their economy.

I think all countries (not just china) can't get away from the development of the global economy. Because the blockchain system is a new innovation in the global economy in the world.

Yes, i couldn't argue no more hence it should came from the government and not just in any social medias report or maybe it's just a rumor to let everyone starts to believe. If that person talking about that was trying to change the thought of their investment because he sees too much FUD, maybe that's why they did talk about something like this but i won't believe on this until there is a government involved.

Wait, didn't China imposed only strict regulations on the ICOs of some companies since it has been abused by various individuals? If that is the case, then we may expect the prices of bitcoin to at least skyrocket once the SEC of their country has lifted the ban/prohibition. We all know China has the largest population of individuals who utilise cryptocurrencies in their daily routines.


There has been a lot of fake news/articles circulating recently but these kinds of news inevitably bring joy to my heart. A soon to be hegemonic country supporting the innovative system of cryptocurrencies may affect bitcoin's price significantly once these changes have been implemented in the future.

That is right, recently they just banned bitcoin and other cryptocurrency, you can't even access bitcoin in the internet and now they are regulating it, well we have to find some more proofs about it, but honestly, when it is true then it is a great news for everyone, for sure bitcoin will rise up high more that predicted when that happens.

Good news from China about reconsidering to legalized ICO very soon. This will another good factor that will speed the market of crypto currency where more investor would join from China. I think other countries like South Korea would also reconsider to legalize ICO and that would make crytocurrency more volatile. Good news indeed.

They would surely fail because cryptocurrencies are decentralized which means full control isn't possible.They might able to control some aspects but on general matters then its an impossible thing.I do agree that they had already make lots of decisions towards crypto banning and prohibiting them but still they do end up on failing and now they are re-considering and this adoption or regulation of ICO would be a good news since we do know the capability or involvement of China into things.

This news will be a fresh breeze from chinese for crypto, if this news can spread widely and maybe hopefully become a reality later, it is certain this will bring very good impact to crypto market. :o

China "may" legalize ICO so it is not a definite news. There is a possibility then that it will be implemented or not for that matter. China has been in and out of crypto and any news from them before has a major impact to the price of bitcoin before but now, the world is moving on without them holding the majority of transactions as we know it is illegal for them to be involved with cryptocurrencies so whether they would legalize ICO or not, it wouldn't matter that much.

If this would be true then it would be good because they are back in the crypto scene and it would be an advantage to the investors too. Scammers would be track and be lessen. We know that many are taking advantage of the anonymity of crypto and make millions of dollars in just a span of months by conducting ICO that are just eventually a scam so legalizing it would make the people behind accountable.

How exactly would you define failing though? ICOs are pretty much dead in China, and their crypto trading volume have plummeted severely from their pre-exchange ban levels. Maybe they failed in controlling them completely, but I'd say they're pretty successful in suppressing it.

It's sad, but most people wouldn't dare risk breaking the law by going against bans, so they would more or less be successful, even with some few enthusiasts being able to crawl through the cracks. They can't stop crypto fully, but they can make you work for it a lot harder than you reasonably should.

I always find controversial facts and news when it goes about China and legalizing ICO.

Care to explain more ?

When first they legalize, second they forbid, and third they start to legalize again.
I think there is something happen on their government regulation unlike my government that still forbid bitcoin usage for security reason !

Kindly go through this article from Forbes, this might clear much of your doubts regarding the legal status of bitcoin in China.

China is a country which has remained against bitcoin since times immemorial. And the acceptance of this fact to many is still hard for many to understand.
https://www.forbes.com/sites/leonhardweese/2017/11/29/bitcoin-regulation-in-china-still-unclear-but-chinese-exchanges-thrive-overseas/#718b13af6487

Nothing is happening with their government. It's just that news sites either poorly translate their articles, or they on purposely state the wrong, this in an attempt to manipulate the market.

China is not a second Russia moving back and forth for years. They either implement the rules they want to be forced through, or they don't do anything for the time being, and keep their mouth shut.

Everyone is too focused on what China is going to do, and that's why news sites find it necessary to exploit that bit of weakness/stupidity. People should stop wasting time on things like this.

We have seen too many nonsense articles with this or that country may do this or that. It's meaningless.

Yes, I would too but this news only told that China's Government is planning to legalized it so it not yet confirmed by their government. That's why it's best for us to wait until their government release an official report that they will finally legalized the ICO again but for the meantime this is only just a rumor.

Yes China always makes interesting dramas. They always manage to make interesting news. enough to make panic and cause price fluctuate.
that is China they have an important role in all fields in the World.

I don't believe any news. It seems to me that with news of whales manipulating the prices. Depending on the need, they spread various rumors. For this reason, we are constantly confronted with contradiction. Why would you pay attention to news from China? You use only your interests. This is my advice.

I don't have any belief in China country because most them are taking the violent decision but now they are accepting the ICO's means it is completely fake news may be. They will not conclude about cryptocurrency very easily and start making ICO's as a legal tender.

I was sure they will do it. You cannot ignore progress and innovations, you must follow the trend or struggle

if china legalize ico well thats a good news.maybe china saw that if they accept crypto in thier country this will be addtional income in thier government.

That will be a good move from China authorities. You can't ignore crypto anymore, you can ban the worldwide spread phenomenon

I'm curious: how much time was between restriction and steps towards legilizing ICO? Not much, I guess. It proves that chinese authorities understand the importance of crypto and cryptorelated things

I don't know if its true or not but the government seems to be very confused about the status of ICOs in thir country . Every other day they come up with different buzz about creating their own virtual currency or accepting the ICOs again . The speculations does not seems to end and China is not able to make a firm decision from almost over a year.

Hope that they will do it as soon as possible
It will enforce the market and positevly affect the community

You can find news connected with China to ban crypto ads and ICOs too
Situation is very unclear now, will wait fore some updates

It seems difficult, because China has banned bitcoin now how it is possible to legalize ICO.

China is overpopulated country. Therefore, legalizing bitcoin surely will create a massive demand on the market, thus the price will go very high. However, it will create many bad effects for China's economy because people will stop relying on banks which will go bankrupt, thus the economy will fall. In conclusion, I do not think will legalize bitcoin even the ICOs, and even if they impose high taxes. 

We should hope for this because Chinese people is a great market and for sure many of them love to own cryptocurrency. Big country like China can really make this market pump again, and I know it will happen soon. So better to grab the opportunity now to hold more good coins.

Some critics say Bitcoin could be used to cover illegal activity, although some would consider Bitcoin's digital footprint could be used to improve transparency.

i dont agree that they just want to manipulate it in order to control the crypto currencies market, they just not very familiar in this field i believe this said, cause china will legalized cryptocurrency ICO just a matter of time only

China is really the world's smartest country and it always has a lot of plans for every new incoming technology and how to monetize it. So same is the case with bitcoin and cryptos. They illegalized cryptos because they wanted that everything ongoing in the crypto industry must be under their control. Now when they will be clear about the legalities and all they will come up with their own exchange and cryptocurrency and will allow people to indirectly enter into crypto world. This way people will have to pay taxes too and their will be a big no on illegal activities using cryptos.

I still doubt on it. There are very less chance for China to legalize bitcoin and other crypto currencies. This news would have been created to calm down the roars of traders. Lets accept it if the country has really understood the benefits of crypto and announced it. They can launch their own crypto currency and benefit out of it. I expect every country to adapt bitcoin very soon.

We have known that China is the country who always wanted to  be the number in all aspect and they did banned bitcoin because they cannot control it and they don't know who are the Chinese people who are earning on it and if they are really paying the right tax, so what they did is that they might just pause and ban for a while until they found the solution on everything.

I don't understand why people keep thinking that crypto has been banned in China, which obviously isn't the case. The only thing that's banned or prohibited (whatever you prefer to name it) are transactions involving fiat, and that's really it. China's main priority is to avoid capital flowing out of their country, and that's something they have acted on. Crypto to crypto trades are still unaffected for now, but I think that it will remain like that. Their main priority is preventing the mass from buying themselves into crypto, and that is something they seem to have succeeded in. The small percentage of people who do manage to buy crypto is considered to be collateral damage. Keeping 90% of their population in check is enough, where the other 10% would remain under the radar anyway, so they haven't lost anything there....

China does impose very strict economic rules on investment. I agree with you, because they think that trading in this crypto is included in the field of investment, so it will involve fiat, while the Chinese government avoids their money out of their territory.
But I still do not understand, if the transaction crypto and crypto trade is still allowed either officially through exchanges and personal trade, does this mean China does support Crypto trading?

it is fine!

I see this too often. This news is usually changing with those telling quite the opposite.

A lot of fake news spreading in the internet  whenever the price if falling, bitcoin is dead, countries don't like bitcoin and many more things so this kind of news I ignore it, I don't care how China sees bitcoin as I know that in the future they will legalize bitcoin and other crypto.

It doesn't mean they support it, just that for the time being, they don't see it as threat. It somewhat makes sense -- if you legally prohibit crypto to fiat trades in any shape or form, people won't be able to obtain or sell their existing crypto. Obviously, people will keep trading crypto for fiat locally, but China made sure the mass is somewhat excluded from crypto, and I think they are pretty happy with that as result. This however doesn't mean they will never end up prohibiting crypto to crypto trades as well, but at least the priority to do so is on the lower side due to the decentralized nature of crypto. It's basically pointless to ban something that can't be banned, so for now they don't, which should give people some level of hope....

The biggest issue with China is that the news coming from there is unreliable. No one knows whether this news is fake or not. The Chinese authorities have for long opposed ICOs. Why should they change their views now?