Investors Beware: China to Give Death Penalty to ICO Traders?

[sanjeev.lamani@]

Chinese regulators discussed plans designed to initiate a crackdown on ICOs being held in China, according to local media. It is alleged that the discussions took place during a meeting hosted by the People’s Bank of China (PBOC).

Chinese Authorities Are Discussing a Number of Measures Designed to Crackdown on ICOs

https://news.bitcoin.com/chinese-regulators-consider-crackdown-on-icos/

[Yoandy10]

Haha, this is freakin hilarious!

Yet, the US is OK to trade with China and not with Cuba.  MUAHAHAHAHA

[enhu]

How are they planing to track down those participants?

Participating on ICO in China is a crime now and could cause your death. Now that is just going to kill the future millionaire in this country. There are a lot of them going to die if they knew how to track them. NEO must have the access.

[daggny_taggart]

By participants, they mean ICO contributors or team members, or both?
This is insane

[AjithBtc]

This is something ridiculous,or this is a fake news. Because from a country that has been accepting bitcoin in large scale compared to other nations as well having large number of people actively into bitcoin and other digital currencies coming up with such a plan will surely ruin the value of the country among the countries that make it legal.

[sanjeev.lamani@]

How are they planing to track down those participants?

Participating on ICO in China is a crime now and could cause your death. Now that is just going to kill the future millionaire in this country. There are a lot of them going to die if they knew how to track them. NEO must have the access.

Right now everyone is clueless. Yeah if they know ICO traders there will be many people who would face difficulty.

How BTC Bitcoin would be growing ? China was good quantum player in bitcoin process. Share your opinion.

[sanjeev.lamani@]

This is something ridiculous,or this is a fake news. Because from a country that has been accepting bitcoin in large scale compared to other nations as well having large number of people actively into bitcoin and other digital currencies coming up with such a plan will surely ruin the value of the country among the countries that make it legal.

May be it would fake news so thought of sharing in these forum to have more clarity on the same.

Rightly said China plays good quantum role in bitcoin upliftment.

[JohnDoe3490]

Chinese ICOs are crazy. The government just wants to prevent the next bubble. Everyone is just printing money in China then when it busts, lots of bag holders.

[patap0n]

An article on Forbes, one in Business Insider, and quite a lot of others on cryptocurrencies news websites ... fake news it doesn't seem to be. Damn, that's a bit rough ...  

This is something ridiculous,or this is a fake news. Because from a country that has been accepting bitcoin in large scale compared to other nations as well having large number of people actively into bitcoin and other digital currencies coming up with such a plan will surely ruin the value of the country among the countries that make it legal.

Been telling myself that, too. Not sure how this'll pan out, or if the Chinese gov would go through with this. Seems like a paradox, considering what happened in the last few months ...

[elc4pitan]

So people abused the ICO mechanism and now you are all surprised and complaining that the authorities are taking things in their own hands? Lets wait and see what comes out of this and how other countries react.

If things are that bad in China they might put this kind of funding on ice until regulations come out.

[coin_1122]

I think the question is not clear because ICO conducting owners or people who are participating in ICO. See firstly Blockchain should be done legal activities in order to control the ICO. Daily many ICO's are being launched with different innovative though but how far their legit nobody doesn't know, so governments should come forward and ask them to prove themselves whether they are legit or not.

[Chikitita2004]

If launching an ICO for a good cause project then why do they need to be punished? If China made it illegal to launch ICos then there must be a reason for doing so. I dont wonder much. Maybe scammers are everywhere in China that's why.

[sjbi]

There are many people who are openly involved in crypto and ICOs.
Most of the enthusiastic youths and young business persons.
A hardline approach can be counteractive for the communist party.

[LakeBTC]

This is just unsubstantiated rumor and gossip with no evidence behind it whatsoever. It's been circulating amongst crypto journalists for a while. The keep republishing this nonsense to get clicks on their crappy Bitcoin websites.

The reality is that the Chinese National government is cracking down hard on pyramid schemes and other sorts of financial fraud often associated with organized crime. A few dodgy ICOs might be caught up in this but they're a tiny part of a much wider problem.

Genuine financial innovation, including cryptos is still encouraged in China. They may even be developing a progressive attitude to ICO.

More information in our blogs about this topic:

https://medium.com/@andrew.mccarthy/icos-based-in-china-a-concern-for-investors-1b4b3f244cfc

https://medium.com/@andrew.mccarthy/investigation-into-shanghai-blockchain-summit-national-crackdown-or-simple-misunderstanding-6e851fbf20ec

[suryogandul]

Thats certainly bad news for the cryptocurrency world, especially the project owner and developer. china is the biggest market in Asia and very high demand for investment. ICO will lose one of the largest potential markets in the world, and will significantly affect for ICO crowdsale

[pavelna07]

Now the main question is, will your attitude change next time you read white paper
published by China based team raising funds for new innovative project. I regret missing out on some good Chinese projects but who knows it might have been blessing.

What about you are you going to be more cautious?

I agree with some of you that the article(s)/news might not be based on facts but everything is possible specially with the upcoming Chinese communist party congress where new leadership will be selected.


https://www.ft.com/content/75a09c43-1916-37c4-af3d-dc1d3bb4df90

[leea-1334]

Oh relax guys. This is just another sensationalist story. Just like how kinder candy is banned by USA but not guns in stores (only some states do anyway), and it becomes a big hoo ha. Big deal. By the way, lots of countries have death penalties that have never been enforced. Do you know some of the obscure laws of your country?

[Quidat]

Oh relax guys. This is just another sensationalist story. Just like how kinder candy is banned by USA but not guns in stores (only some states do anyway), and it becomes a big hoo ha. Big deal. By the way, lots of countries have death penalties that have never been enforced. Do you know some of the obscure laws of your country?

Cant be sure? How much you do know about China? Once they would impose such law then they would really mean it. If there would be a death penalty then I strongly believe they would really impose such thing.I see this is really a ridiculous step by them and why it comes so far on which It comes to a point on where giving a serious step to fight ico participants on such place.

[carlisle1]

Oh relax guys. This is just another sensationalist story. Just like how kinder candy is banned by USA but not guns in stores (only some states do anyway), and it becomes a big hoo ha. Big deal. By the way, lots of countries have death penalties that have never been enforced. Do you know some of the obscure laws of your country?

Cant be sure? How much you do know about China? Once they would impose such law then they would really mean it. If there would be a death penalty then I strongly believe they would really impose such thing.I see this is really a ridiculous step by them and why it comes so far on which It comes to a point on where giving a serious step to fight ico participants on such place.

that's the problem since china really serious if they impose a law I remember before when they say that they will place all drug related case to this sanction
and they did, so its a bad for those who wants to earn from any ico oh well that's life and that a government that have their own position regarding to this
matter.

[Intel 4004]

I hope that's a fake news... What a shame