ICO is officially banned in China !!!

[Pennywis3]

China is just trolling and spreading FUD, so they can buy cheap coins...

[stupid_seb]

China is just trolling and spreading FUD, so they can buy cheap coins...

Some idiots have to sell BTC at $4,160 for others to buy them.
I wonder who thinks that selling BTC at $4,160 is a smart move.

USA will wake up soon and buy all the BTC. A nice heist. For once uncle Sam wins agains the Great Wall.

And China not being able to buy more BTC with fiat will have issues coming back in the game.
BTC becomes a scarce and wanted resource. It's becoming precious for China (if you managed to get some before, you are lucky!).

India, Korea, Japan, and southeast Asia must be laughing hard today.

[thejaytiesto]

Here's the list of ICOs banned by China:



Looks like nothing of value was lost. Purge that shit.

Once the markets realize this is not a global ban of all ICOs, but only some ICOs that no one even knows, BTC will be the first to go back up, followed by speculative altcoin money short after.

Stop falling for the good ol chinese tricks and traps and buy the dip.

I don't speak chinese. How do you know it's not a global ban on all ICOs and only a few selected ones?

That thing does look like a list. So if there is a list, im guessing the ban is not global.

One of the ICOs that got me worried the most is NEO due the massive volume, but it looks like this will not have an impact on NEO (other than the price crash due panic selling of course..)




What I don't get is.. he says "regulation", but this is a straight ban so?

[machinek20]

This is bad, I do believe the government had a good intention but by banning ICO is not a great move. Especially for someone that already put a lot of their money into ICO and this can be the end of china alt coin like neo, but it is not a suprised move made by China, China like to banned everything

[pearlmen]

All what I am seeing is just a way reduce the continued dominance of bitcoin and find a way to stop it. Although, they have legitimate reasons because most ICOs don't have a workable prototype but some have turned out to be the best. In all Tue market will still need to react to this news because news from that end always dealt some effect on price but hopefully we recover and continue to soar.

[SvenBomvolen]

I think it's a policy of the Chinese government to protect the citizens from fraud with the ICO. As we know there is many ICOs became a fraud, and China's acting quickly to make regulations on it. Nothing bad can happen if every ICO developer records their name on the official government list to become a legal company. CMIIW.

That's right. We all know that part of ICOs were create for taking money from people without any progressive idea of the token or altcoin. Creators of such ICOs must be really rich now. I think China is the first country who banned ICOs due to their scamming activity, but not the last country who will do the same. All this scammers should be punished and banning is the only way. But again there is a problem of banning of perspective projects which also can be found in all mass of ICOs. I'm so exited about this news that I even don't know what to think about this banning and all those people who already invested in ICOs before it's official release!

[Mr]

China is just trolling and spreading FUD, so they can buy cheap coins...

I agree with you. It is hard to believe that they are trying to block all the ICOs. NEO is falling very hard and it is all because of the new rules come from the Chinese government. Well, they can ban but people will still participate in ICOs for sure. China are full of wise and intelligent people. The government can not stop them from earning more and more money

[hb.top]

Because of the policy, all cryptocurrency price is down a lot. Some up to -60%.

[Shamie1002]

In my opinion it is a great step, I think ICOs are really an open window for scams and with the great population adapting BTC it is very hard to still think that every thing is safe within the concept of BTC.
I can see how China contributes to bitcoin and how it affects the whole industry.
It will be a big dip but I am willing to wait. Hope that they resolve issues. Safer income is better than anything else.

[Tyrantt]

if you ask me, ICOs and this many alt-coins are a bad idea and this ban is somewhat good. Most of the bigger investors were pumping and dumping new alts and crash trier price right after their release for profit and then moving on to the next one.

[jmigdlc99]

How does China do this? Do they actively search for new and upcoming ICOs and ban their IP addresses? What stops someone from China from sending ETH to an ICO? Or do they all follow what the government says?

[Herlina]

i think that this is just temporary.
however, there will be strict regulations before approving any ICOs
and strict regulations are needed to protect people from illegal fund raising, and intentional fraud.

[Granxis]

Bitcoin's direction is always going down as a result of China's constant repressive administration, because China is an important country, I wish it was a little innovative like Japan, but last summer My friend who went to China told me that I had an ATM problem, and although he is the biggest investor in Bitcoin, they are not taking a step forward.

[w5pn73]

In some way I'm kind of glad this is happening due to all the scams out there, but I'm not into more regulation though.

[RomanPetrush]

Kinda glad this is happening, I'm not into more regulation though, but would like to see ICO's disappear.
 

Why do you think so?
ICO is likea gambling. Gambling actually is not so good, but someone whants to play this game. And i'm a bit.. but agree with you.

[zekeshawn]

I heard about this news and I guess this is the reason why there are dumping that is happening right now people are on panic specially the newbies this news has a big effect into crypto since China one of the biggest investors of bitcoin.

[flower1024]

How does China do this? Do they actively search for new and upcoming ICOs and ban their IP addresses? What stops someone from China from sending ETH to an ICO? Or do they all follow what the government says?

I think Chinese governament is taking this very seriously. May be they received many complaints against the fraud ICO scam, so they are coming with this strong decision. According to me, this will effect on all altcoins price you just look the all altcoins price list it keeps on falling.

[Technos]

The problem with ICOs is the lack of transparency. You never know if the developers are buying coins from themselves, to inflate the crowdfunding numbers and create a false sense of interest.

[Kprawn]

The Chinese banned most access to the internet to via their firewalls and the people still access these sites. Agreed, the ICO's

is becoming a problem and proper regulation would have been the best solution, but as usual the Chinese government over

reacted and they ban something before they did their homework. Prepare for a much cheaper Bitcoin now, the market will

also over react now.  

[error08]

Yes, PBOC already banned ICOs project and all funds should be returned to investors, it is a doom for many project in China obviously.
But, I think people in China should be able to invest on some ICO projects as long as its operated outside the country which many companies have done it. PBOC will not know about ethereum or bitcoin being transferred to buy some tokens from several ICOs.
The People’s Bank of China (PBOC) has ordered the cessation of all initial coin offerings (ICOs) in China, mandating that active ICOs must return funds to investors. The announcements confirm rumors originating from Chinese media outlet Caixin that the PBOC had decided to initiate a crackdown on initial coin offerings operating in China.
https://news.bitcoin.com/chinas-central-bank-deems-icos-illegal-refunds-mandated/