ICO is officially banned in China !!!

[bitorama]

I don't think that China will ban bitcoins, the targets are scam ICOs. Blockchain tech is the future, China won't miss it.

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[aeternus]

Good thing they didn't ban the Internet itself by this point. Oh wait, they pretty much did.

ICO are a bad idea and most of them are either scams or leave the investor with the same result. Chinese government seems to ban anything with possible bad effects on people, so I am not surprised.

I think this is going to calm down somewhat the current ico craze that we have, but at the same time people that really want to invest in those projects will find a way, that is basically what they are doing with bitcoin they like bitcoin because it allows them to bypass current restrictions that are in place in China.

[monocolor]

Good news that ICO banned. I hope it is banned everywhere, at least going through a formal process (like those IPO through SEC). There are way too many scams there (in fact, most ICOs are scams).

[Adbitco]

Good news that ICO banned. I hope it is banned everywhere, at least going through a formal process (like those IPO through SEC). There are way too many scams there (in fact, most ICOs are scams).

I agree most of them are nothing but scam. The people behind such scam ICOs use it as a tool to make money. I think nobody needs so many coins, they don't even have any practical use. I think after China many more countries are going to ban ICOs and even if they are not banning it they will definitely have some strict rules and regulations for ICOs and there should be one I think.

[8270thNinja]

Have you read the news about china's mining bitmain is fundraising for $50 million USD? can we connect this news why china banned ICOs? I think it's really connected, we can see that china is working hard to be a center of bitcoin mining.

[xaviervilla]

Oh my gosh! This is really shocking! I never really thought that this could ever happen to any country! Specially china where a lot of people loved crypto currencies! Plus all the rumors that cryptos are getting widely accepted in that country. Damn! Who would've thought? Well, maybe people there over did it and started abusing the things crypto currencies could do that's why the government needed to take action. I just hope there ain't no hidden agendas with this decision.

[mrcash02]

Why is it good? China government is putting his nose where it shouldn't. Nobody forces anyone to invest on those ICOs. These "fraudulent" ICOs you say are like a game and the players know about the risks. People say ICOs are pure speculation, well, for many people Bitcoin is pure speculation too, should it be banned too?

Everything the government wants is a piece of the cake. I heared if you want to run your ICO you need to inform all the details to the government, ask permission, this kind of stuff... Just because they want some profit, step by step centralizing even more the Crypto-Currency world.

[K73YWCPX]

I must say I am a newbie at this and today's decline has shaken me. Hopefully things will get better

[Fourgh]

Thanks for the informtion.
China would have been a good market for an ICO since they have the numbers in terms of population.
I think the government is just making measures to protect their people form investing their money on online investments (especially on cryptocurrency)  not controlled or regulated by their government.

[DoublerHunter]

I must say I am a newbie at this and today's decline has shaken me. Hopefully things will get better

As a newbie you should get used to this decline and you must take advantage of the decline in the market because you can buy a lot of bitcoin and altcoins to save some money and you can get a higher profit if the decline is gone. This is normal in cryptocurrency world to see a huge decline or rise in the market so just get used to see this always.

[chixka000]

This is really affecting the market. However I am not a fan of ICO as well. I just cant see its worth. Chinese government is really up to something(they also do control everything from their people)

[tranle789]

Oh my gosh! This is really shocking! I never really thought that this could ever happen to any country! Specially china where a lot of people loved crypto currencies! Plus all the rumors that cryptos are getting widely accepted in that country. Damn! Who would've thought? Well, maybe people there over did it and started abusing the things crypto currencies could do that's why the government needed to take action. I just hope there ain't no hidden agendas with this decision.

For me. China is trying to manipulate all of the Cryptoucurrency market with this news but my view is different. I am sure China has planned from the start to make many investors panic and sell all the assets makes all altcoin also discounted by and China will buy it cheaply

[roomfirst]

Oh my gosh! This is really shocking! I never really thought that this could ever happen to any country! Specially china where a lot of people loved crypto currencies! Plus all the rumors that cryptos are getting widely accepted in that country. Damn! Who would've thought? Well, maybe people there over did it and started abusing the things crypto currencies could do that's why the government needed to take action. I just hope there ain't no hidden agendas with this decision.

For me. China is trying to manipulate all of the Cryptoucurrency market with this news but my view is different. I am sure China has planned from the start to make many investors panic and sell all the assets makes all altcoin also discounted by and China will buy it cheaply

Why manipulate lol, it's official news though from China. Because of this news China banned ICO, so many cryptocurrency price fall and bleeding even bitcoin too. God damn China, when the bad news come, the price always suddenly dropped so hard. It means China has a big part of the bitcoin community.

[sosobtc-Regina]

Because most of ICOs are only for money,Bad money drives out good is happening to ICO ,so government must pay much attention on it.But I think only regulation can guarantee the long-term healthy development in the industry.

[pushups44]

Clearly there needs to be more regulation and oversight regarding cryptocurrencies around the world. On the other hand, there are legitimate projects that should be recognized as such. Hopefully China and other countries will find a happy medium between regulating cryptocurrencies and allowing them to revolutionize the economy.

[HabBear]

When Paris Hilton is involved in an ICO it's time to sell this shit. Seriously, guys, the ICOs are a mirage. Don't get let holding the empty bag!

Couldn't agree more with the sentiments shared below.

Cheers to the Chinese Government for trying to do something to keep people safe from the scams that exist.

99% of these ICOs are cancer, and people advertising them are greedy idiots. Nice going China, time for EU, Japan and Russia to follow and shut down the bullshit sales (e.g. Bancor, StorJ, Civx, etc.).

Loving this part.

2000% agree.

I love the part too. Binance is gonna suffer...
BTC becomes a rare asset now in China... happy those who put their hands on some of the coins before this ban.

[4yma]

You need to make a token provided with a product. Tokens based on dividends and promises must undergo strict verification.

[Lauda]

2000% agree.

I love the part too. Binance is gonna suffer...
BTC becomes a rare asset now in China... happy those who put their hands on some of the coins before this ban.

We all know that these ICOs operate in gray areas of the law, but the problem primarily stems from: 1) A huge amount of money flowing into them. 2) A huge amount of money flowing into scam ICOs like Bancor or similar. Obviously they would and should be shut down.

When Paris Hilton is involved in an ICO it's time to sell this shit. Seriously, guys, the ICOs are a mirage. Don't get let holding the empty bag!

When I was commenting that, I was stating "When people with 50 IQ are pumping random ICOs with a lot of buzzwords, then it's a sure warning sign; exit the market". The ICO that she mentioned uses all the fucking scam buzzwords, "AI", "big data", "marketing cloud", "blockchain". The team behind that project is pathetically stupid.

Cheers to the Chinese Government for trying to do something to keep people safe from the scams that exist.

Next is Japan, EU and Australia and we can continue with a normal market (hopefully).

[kenkoy]

Cryptocurrency market is volatile and uncertain. I think China is just protecting its citizen from the fraud and scams brought by untrusted ICOs. Their government needs to figure out how to deal with ICO legally so they have stopped it.

[Nivir]

This is the reason why bitcoin and most of the altcoins are dropping right now but on the other hand it gives us an opportunity to buy coins when their prices are low. It is just sad that China banned the ICO but maybe their government just protected themselves from fraud and all.