I ve been reading article about China fintech,looks like China and fintech is somewhere in middleages
Thay have een so much surprised by p2p landing,any regulation in p2p caused heavy mlns dollar fraud
I can understend baning ico untill regulations will be not created,but exchanges ban after regulations just done,idiotic,exchanges can change location,will thay ban crypto for chinise
Article below maybe are better explaining that complicated situation,but wait,there is no any official chinise exchanges ban
http://news.8btc.com/domestic-exchanges-will-be-banned-and-the-pboc-monopolizes-currency-issuanceSun Guofeng, head of the PBoC financial research institute, said in a recent interview that the ICO crackdown is necessary and timely.
“But this should not prevent relevant financial technology companies, industry bodies and other technology firms from continuing their research into blockchain technology.”
He emphasized that one should broaden view on the blockchain research instead of simply focusing on new ways of fundraising.
“Blockchain itself is a good technology, and an ICO is not the only way through which one can carry out research into it.”
Sheng agreed that though ICOs are banned and virtual currency exchanges need to be tightly regulated, blockchain technology itself should be valued.