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

[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.

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.

Some people don't easily believe on how countries do impose new laws.Some may not be strict and just forget on what they announce but knowing China they are really strict and we can really able to see that thing on how serious they are when they do like to make a new law. Once been announced then it will 100% be implemented and I agree on what you said sad for those people who are really fan on joining ICO on those place.

[qiwoman2]

Well if this is the way the Government of China wants to protect it's people from scams, it's a little harsh but at the same time it may stop the Crypto space being riddled with fake and scammy projects. I wonder if this will affect the price of NEO if ICOS are no longer allowed to be run in China?

[dieselmeister]

Well if this is the way the Government of China wants to protect it's people from scams, it's a little harsh but at the same time it may stop the Crypto space being riddled with fake and scammy projects. I wonder if this will affect the price of NEO if ICOS are no longer allowed to be run in China?

why doesn't make a ICO platform to control and use NEO is base currency. I hold some NEO and really curious about this

[bhoybitcoin]

This news is not accurate or I might say that this is just a rumor. If its true, well we don't have any choice since china have the higher alt coin members. Let's just hope that it won't happen.

[Zicadis]

Well if this is the way the Government of China wants to protect it's people from scams, it's a little harsh but at the same time it may stop the Crypto space being riddled with fake and scammy projects. I wonder if this will affect the price of NEO if ICOS are no longer allowed to be run in China?

That explains why i have seen less ICO's to be from china and more from Singapore and other places but is this the last resort of the government..? To be honest such a harsh punishment and we know they mean well and all in an effort to reduce scams but this might affect established currencies negatively and bring fear into crypto users. 

[cryp24x]

Isn't OP exaggerating?  How would a person investing in an ICO get a death penalty?  This is not a heinous crime and far different from illegal drugs.  Aside from that if the person is trading ICO's then for sure he had spend his own money from it.  It would be heartless for a government to give such heavy penalty for an ICO traders.

[Moana]

If it is not fake news I guess they will have death penality only for scammers...

[poodle63]

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.

ICO is different with the bitcoin, the ico has a high chance to be turned into the another scam. that's why the pboc try to regulate the ico. It seems to be a normal thing if you see the fact that too many ico already turned into the scam but not at all. But the news is not 100% true in my opinion.

[wojak]

What a rumor.

"Anyone looking to raise funds in China through an ICO can sleep better. Five years in prison is the maximum jail time that awaits those whose token has been ruled an illegal security. Only those fraudulently raising money can expect higher sentences, and even life imprisonment."

https://www.forbes.com/sites/leonhardweese/2017/08/30/blockchain-icos-can-china-issue-the-death-penalty-for-illegal-fundraising/#4e15b6d46225

[shyliar]

As if the link provided wasn't interesting enough OP had to add the clickbait about the death penalty. And as the responses indicate most folks don't even read the link provided to discover zero content about death penalty. Maybe that's why investors need government protection from the ICO fraudsters. To stupid to even do the research.

[LakeBTC]

As if the link provided wasn't interesting enough OP had to add the clickbait about the death penalty. And as the responses indicate most folks don't even read the link provided to discover zero content about death penalty. Maybe that's why investors need government protection from the ICO fraudsters. To stupid to even do the research.

This. It's just click bait. If an ICO is associated with true financial fraud and possibly organised crime and violence, of course the Chinese government will punish those criminals hard. They should.

Legit ICOs and other financial innovation have nothing to worry about.

[vipgelsi]

[Bay_Harbour_Butcher]

China is a very strict country in legal matters, so this news may be true and not a hoax, but I think they only punish the perpetrators of scammer crime

[NorrisK]

Better unload those NEOs  then.. Nor ICOs going to be hosted there..

Joking aside, I'm thinking they will mainly go after unregulated stuff.

[Mazt rhiezt]

I can not imagine the death penalty for ICO perpetrators, this is very unreasonable.
If it is true like that will be much exposed to punishment because almost 30% of China's population plunge into ico.

[13abyknight]

Don't really see death penalties being handed out for participating in ICOs but other measures like a few months jail time and some cash penalty would seem to be where they're heading with this idea.
Using a simple VPN which doesn't store logs could be the solution for the Chinese people to invest in ICOs and even that is that their own risks.

[pavelna07]

Yea this is the end of speculations, the massage send by Chinese authorities is loud and clear.
“committee led by China’s central bank today announced an immediate ban on ICO funding”

https://techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/?ncid=mobilenavtrend

[asepsetiawan1990]

is it that bad? In my opinion. Such regulation indicates a concern and negative thinking about ico. whether there is no other way more comprehensive

[wpalczynski]

China has banned ICO's that's not fake news, but I haven't seen anyone talk about giving Death penalty...

[zopply]

i think this guy summed it up really well in his post : https://www.reddit.com/r/NEO/comments/6xz6tl/how_china_banned_icos_and_how_you_can_benefit/
doesn't seem that bad to me, just people panic and sell. I'm buying up right now while the price is low.