China Blocking ICO?

[klixion]

This is the first i've heard of but if it is true, that just means there's a better opportunity for the rest of the world to get in on the ico's.  China's been buying many of the tokens of popular icos.

[anylic]

NEO has AML (anti money laundering) and KYC (know your customer) features on its platform, which means that it is actually much easier for them to liaise with the Chinese government on making future ICOs compliant than for other platforms with more anonymity features. Granted, being non-anonymous has always been a give and take (depending on what you believe crypto currencies should be like), but in this case, it seems that this particular development is actually giving NEO a competitive edge against the other smart contract platforms. Assuming that China is banning Chinese citizens from participating in ICOs across all projects that do not meet their requirements, this can only be good news for NEO.

[Kuchiyose]

it seems I just heard if china block ICO but I can't be sure if it's true or not.

[Beicin]

China is gonna regulate ICOs, not outright block them. Doesnt really come as a surprise when you think about China to be honest...if they let something like this ride freely now that would be weird. If yuo're holding NEO it still means that they might work together with the govt and have better chances of succeeding while other competitors (like Eth) might just be straight banned from the country

[ContrivedShark]

If the government backs cypto and puts in controls that support investors it could be a good thing.

It is currently the wild west with all these new icos popping drawing millions in investment

Eitherway, the uncertainty will cause a lot of volatility. Which is good if you are yet to invest!

[Pasutinmeur]

China Blocking ICO? What do you think about this?
NEO Already reacted to this statement

It looks good for the investors but it will not be a good thing if the PBOC try to regulating all of the ico, i mean all of the structure to run an ico in chinese environment. The redpulse already delayed again the crowdsale due to the pboc latest announcement regarding the ico regulation.

[dewanaga]

if indeed make ico banned it will make bad impact also for us bounty hunters,  
i fear if ico is banned all over the world, like america, russia impact will also happen in ethereum  
hopefully ico will continue to run  

[LakeBTC]

China is gonna regulate ICOs, not outright block them. Doesnt really come as a surprise when you think about China to be honest...if they let something like this ride freely now that would be weird. If yuo're holding NEO it still means that they might work together with the govt and have better chances of succeeding while other competitors (like Eth) might just be straight banned from the country

Right. China will go just after the bad guys. There's a huge problem here with pyramid schemes and other sorts of fraud. A few dodgy ICOs are a small part of that massive issue. China does not want to kill financial innovation, including ICO.

Here's an article by the Director of PBOC Digital Currency Research Institute. It's very positive about ICO.

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

[chelslam]

This is bad news. It's bad that governments are starting to get involved with and control over the cryptocurrency space.

[LakeBTC]

This is bad news. It's bad that governments are starting to get involved with and control over the cryptocurrency space.

As long as they go after the scammers, the pyramid schemes and the fraudsters I think it's a positive thing for genuine financial innovation.

[aidit45@gmail.com]

Bitcoin users in China do not use the digital currency to transact in their daily lives. However, they use the currency as an activity that is not widely practiced by society in general. Such as investing as well as for currency conversion.

[hdasd]

As I see,the project from other country had made Chinese government worried more money flow to overseas
and I think it also is a protection for investor ,ICO project not all ready,it fills a lots of scam

[Cloud27]

AFAIK there is no blocking at this moment, they will only implement a regulation. The regulation of ICO in China will not surprise me. ICO is a boom business in China, and the government is worried about the lack of regulation. If there is no regulation, it will turn out to be messy. The purpose of regulation is to protect the interest of the investor and to be protected from scammers. China is about control, they want to control everything.

[suryogandul]

As I see,the project from other country had made Chinese government worried more money flow to overseas
and I think it also is a protection for investor ,ICO project not all ready,it fills a lots of scam

yes I agree with you, sir. The Chinese government prefers to reinforce the fundamentals in this country by preventing money from flowing to other countries. but in fact, China is the largest potential market in Asia, ICO have a great demand there, ICO with good rating will be quickly sold

[Kocret02]

As I see,the project from other country had made Chinese government worried more money flow to overseas
and I think it also is a protection for investor ,ICO project not all ready,it fills a lots of scam

yes I agree with you, sir. The Chinese government prefers to reinforce the fundamentals in this country by preventing money from flowing to other countries. but in fact, China is the largest potential market in Asia, ICO have a great demand there, ICO with good rating will be quickly sold

china's goal is not for blocking indeed china has a good market opportunity for ICO but the government take such actions just because it wants to protect domestic investors and also may have certain intentions from the government.

[mroth7684]

what do u get this information. I see a paper on forbes last week say CHina doesn't block ICO

[ettagames]

I thought it's a good thing for the really good ICO items, in past few months, there are some many new ICOs in China market, and actually, you're hard to determine which one is worth to invest.

[rainbow169]

Looks like there will be some regulation coming, hope it's not a temporary block all scenario, like they did to bitcoin withdraw early in the year. Short term this is actually good to ICO outside of China as chinese investor will try stay away from local ICOs. Long term, this is good news for a healthy crypto ecosystem all together.

[xandriel]

is u mean block? or gov china have a plan to control ICO? control ICO is good. avoid scam ICO

[Mr. Net]

Funny how no one really understands that you won't be able to prevent ICOs from happening in china. Or rather Chinese people will still be able to participate. Blockchain isn't bound to nations like traditional companies.