ICO is officially banned in China !!!

[rhana_]

scheme ICO who has earned funds US $ 1,6 billion mentioned call a threat to the industry financial China. therefore, many financial institutions and investors silence - silent drain the funds illegal to virtual currency of the. all agencies involved in the ICO sanctioned a ban on operating

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[Gudcrypto]

China has overall restricting policies regarding sites, apps etc, it's no surprise for me actually)

[shendy]

I did not expect China to ban the existence of Bitcoin. To the extent that ICO was forbidden, it must have been its goal to keep the Chinese people away from the Cryptocurrency World. I am really confused as to why the Chinese Government can be this tough, but many Chinese people depend on Bitcoin because they feel they have a new job. But this is even forbidden and their lives will be no more trouble. Hopefully, there is good news from China.

[Lauff]

ICO are a bad idea and most of them are either scams or leave the investor with the same result.Investors lose their hard earned money on the scam ICOs. So it a nice step taken by Chinese Government. 

I think nobody needs a lot of coins, they do not even have practical use. I think after China more countries will ban ICO and even if they do not forbid it, they will definitely have some strict rules and regulations for ICO and there must be one I think

[celcoid]

With the declaration of the Chinese state antecedently, the restriction on the IOC during this power nation is totally conceivable. In any case, I imagine that China could have concurred with some completely different nations, as an example, Russia, to assemble their own electronic money on a blockchain premise in order that they will improve true administration. for the Cryptocurrency showcase.

[BCSHonda]

I think China only banned many scams ICO projects. Do not worry. I think that in the coming years potential ICO projects will emerge in the cryptocurrency market and China will actively participate in such projects, which will help China's economy grow rapidly.

[shalaza]

It's a good move to protect the investors, these ICOs are springing up everywhere now and some of them are not serious about it, they are just there to scam people. If only all ICO are genuine, then there won't be drama like this but then, it isn't possible. Some of them are conmen.

[Lamisa asfiya]

I think the Chinese government has made such a decision to protect the citizens of their country from fraud. Because of numerous fraud and corruption with ICO citizens. This has taken such steps to protect the country and the nation. An ICO developer puts names on the official list to legitimize their company but can do anything bad.

[Craigjohnstone]

The government are protecting investors. However they are not giving the opportunity that an good ICO can create. They will lift the ban eventually and put some sort of regulations in place.

[ABIR HASAN]

I think, which is bitcoin is very popular. So BTC are not dead without china.

[zhundy]

With the declaration of the Chinese state previously, the restriction on the IOC in this tycoon nation is completely conceivable. In any case, I imagine that China may have concurred with some different nations, for example, Russia, to assemble their own electronic cash on a blockchain premise so they can improve the situation administration. for the Cryptocurrency showcase.

[kunis0727]

I am just searching for something to read and come out with this article. What an irony, when this article says that ICO is officially banned in China before, but now, 2018, Chinese are one of a hell investors of cryptos.

[freshm4ker]

ICO is considered a fraud by many people but there are some really legitimate ones. The right choice for china because this ICO can target people in their country because there are many investors crypto currency in China.

[willnotwas]

This thread was started last year and now we can see that China came to the same conclusion as USA, regarding to ICO regulations. Any ICO now have a special checkbox "check to confirm that you are not USA or China resident", so in my opinion this is only chinese people's headache.

[tidus_13]

According to Caixin, the ban applies not only to new primary distributions of coins. In addition, organizations and individuals who have already conducted ICO, will have to return the funds to investors.

[EinaiOraCoinDev]

All currency issuing countries are afraid to loose their monopoly regarding money. They will watch how the blockchain universe grows and will do everything in their power, to keep it in check.

[jhonnydeep87]

The bad news from china makes many people panic selling crypto currency assets. On that occasion I took advantage of this good moment to buy cheap coins. China has never tried to reject the bitcoin circulating in China but see the reality now. The Chinese government just wants to protect its citizens from ICO Scam.

[david tien]

How does banning ICOs in China will give benefits to stop frauders?

[Jacsnuffles]

The Chinese government just want to protect their people from fraud people. But we all know that not all ICOs are fraud. Maybe regulations and policies can be applied once the Chinese government contemplates every detail and action needed.

[sagna kaka25]

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.