[2017-07-13]PBOC Official: Research on ICO and Its Regulation(full translation)

[hl5460]

Yao Qian, author of the article, is the Director of PBOC Digital Currency Research Institute. This article represents only the author’s personal academic viewpoint and shall not be regarded as that of the organization he works for. The paper is first released on latest issue of Modern Bankers.

Abstract:
ICO is becoming one of the important financing channels for blockchain startups. This article makes a comprehensive study on the connotation, categories and value assessment of ICO. The paper also compares ICO with IPO, equity crowdfunding and other financing methods and proposes specific framework and suggestions for ICO regulations with considerations upon the legislation practice of securities issuance and the current regulatory design. “Regulatory sandbox” is suggested as the practical patch to regulate ICO projects.


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

[iamTom123]

I have been expecting this all along. The recent big boom of the ICO market...even bigger than the crowdfunding scheme used by many in the past...has already caught the attention of the authorities...this time from the Chinese government. I understand that Chinese buyers of ICO are increasing at an alarming rate. With the government always watching the movement of the money of its people, it is just a matter of time for them to establish regulatory framework for ICO issuance and participation.

Many ICO issuers have already shied away from the USA market because of unclear regulatory pronouncement on ICO and they don't want to get entangled in possible legal actions from the government. Now, I am then hoping that Chinese government will not ban ICO participation for its citizens and would just get stricter and clearer on its policy regarding ICO investment.

In fact, many Chinese companies can also take advantage of the same ICO market because I am sure that many investors are interested in the burgeoning Chinese market.

[hl5460]

I have been expecting this all along. The recent big boom of the ICO market...even bigger than the crowdfunding scheme used by many in the past...has already caught the attention of the authorities...this time from the Chinese government. I understand that Chinese buyers of ICO are increasing at an alarming rate. With the government always watching the movement of the money of its people, it is just a matter of time for them to establish regulatory framework for ICO issuance and participation.

Many ICO issuers have already shied away from the USA market because of unclear regulatory pronouncement on ICO and they don't want to get entangled in possible legal actions from the government. Now, I am then hoping that Chinese government will not ban ICO participation for its citizens and would just get stricter and clearer on its policy regarding ICO investment.

In fact, many Chinese companies can also take advantage of the same ICO market because I am sure that many investors are interested in the burgeoning Chinese market.

Good point. Can Americans entrust their bitcoin to some foundation for ICO investment?