ICO is officially banned in China !!!

[BillyTalent]

Breaking news!

ICO is officially banned in China!

Here is the joint announcement from The People 's Bank of China, Central Network Office, Ministry of Industry and Information Technology, State Administration for Industry and Commerce, China Banking Regulatory Commission, SFC, CIRC: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html

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近期，国内通过发行代币形式包括首次代币发行（ICO）进行融资的活动大量涌现，投机炒作盛行，涉嫌从事非法金融活动，严重扰乱了经济金融秩序。为贯彻落实全国金融工作会议精神，保护投资者合法权益，防范化解金融风险，依据《中华人民共和国人民银行法》、《中华人民共和国商业银行法》、《中华人民共和国证券法》、《中华人民共和国网络安全法》、《中华人民共和国电信条例》、《非法金融机构和非法金融业务活动取缔办法》等法律法规，现将有关事项公告如下：

一、准确认识代币发行融资活动的本质属性
代币发行融资是指融资主体通过代币的违规发售、流通，向投资者筹集比特币、以太币等所谓“虚拟货币”，本质上是一种未经批准非法公开融资的行为，涉嫌非法发售代币票券、非法发行证券以及非法集资、金融诈骗、传销等违法犯罪活动。有关部门将密切监测有关动态，加强与司法部门和地方政府的工作协同，按照现行工作机制，严格执法，坚决治理市场乱象。发现涉嫌犯罪问题，将移送司法机关。
代币发行融资中使用的代币或“虚拟货币”不由货币当局发行，不具有法偿性与强制性等货币属性，不具有与货币等同的法律地位，不能也不应作为货币在市场上流通使用。

二、任何组织和个人不得非法从事代币发行融资活动
本公告发布之日起，各类代币发行融资活动应当立即停止。已完成代币发行融资的组织和个人应当做出清退等安排，合理保护投资者权益，妥善处置风险。有关部门将依法严肃查处拒不停止的代币发行融资活动以及已完成的代币发行融资项目中的违法违规行为。

三、加强代币融资交易平台的管理
本公告发布之日起，任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务，不得买卖或作为中央对手方买卖代币或“虚拟货币”，不得为代币或“虚拟货币”提供定价、信息中介等服务。
对于存在违法违规问题的代币融资交易平台，金融管理部门将提请电信主管部门依法关闭其网站平台及移动APP，提请网信部门对移动APP在应用商店做下架处置，并提请工商管理部门依法吊销其营业执照。

四、各金融机构和非银行支付机构不得开展与代币发行融资交易相关的业务
各金融机构和非银行支付机构不得直接或间接为代币发行融资和“虚拟货币”提供账户开立、登记、交易、清算、结算等产品或服务，不得承保与代币和“虚拟货币”相关的保险业务或将代币和“虚拟货币”纳入保险责任范围。金融机构和非银行支付机构发现代币发行融资交易违法违规线索的，应当及时向有关部门报告。

五、社会公众应当高度警惕代币发行融资与交易的风险隐患
代币发行融资与交易存在多重风险，包括虚假资产风险、经营失败风险、投资炒作风险等，投资者须自行承担投资风险，希望广大投资者谨防上当受骗。
对各类使用“币”的名称开展的非法金融活动，社会公众应当强化风险防范意识和识别能力，及时举报相关违法违规线索。

六、充分发挥行业组织的自律作用
各类金融行业组织应当做好政策解读，督促会员单位自觉抵制与代币发行融资交易及“虚拟货币”相关的非法金融活动，远离市场乱象，加强投资者教育，共同维护正常的金融秩序。

While you wait for translation go look at the prices of NEO and BNB. Neo is down to $17 dollars from like 34 today, and BNB is down to .61 cents from $1.70 or so today. Absolute bloodbath.

[1715673826]

1715673826

[Aleksablack]

Breaking news!

ICO is officially banned in China!

Here is the joint announcement from The People 's Bank of China, Central Network Office, Ministry of Industry and Information Technology, State Administration for Industry and Commerce, China Banking Regulatory Commission, SFC, CIRC: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html

-----------------------------

近期，国内通过发行代币形式包括首次代币发行（ICO）进行融资的活动大量涌现，投机炒作盛行，涉嫌从事非法金融活动，严重扰乱了经济金融秩序。为贯彻落实全国金融工作会议精神，保护投资者合法权益，防范化解金融风险，依据《中华人民共和国人民银行法》、《中华人民共和国商业银行法》、《中华人民共和国证券法》、《中华人民共和国网络安全法》、《中华人民共和国电信条例》、《非法金融机构和非法金融业务活动取缔办法》等法律法规，现将有关事项公告如下：

一、准确认识代币发行融资活动的本质属性
代币发行融资是指融资主体通过代币的违规发售、流通，向投资者筹集比特币、以太币等所谓“虚拟货币”，本质上是一种未经批准非法公开融资的行为，涉嫌非法发售代币票券、非法发行证券以及非法集资、金融诈骗、传销等违法犯罪活动。有关部门将密切监测有关动态，加强与司法部门和地方政府的工作协同，按照现行工作机制，严格执法，坚决治理市场乱象。发现涉嫌犯罪问题，将移送司法机关。
代币发行融资中使用的代币或“虚拟货币”不由货币当局发行，不具有法偿性与强制性等货币属性，不具有与货币等同的法律地位，不能也不应作为货币在市场上流通使用。

二、任何组织和个人不得非法从事代币发行融资活动
本公告发布之日起，各类代币发行融资活动应当立即停止。已完成代币发行融资的组织和个人应当做出清退等安排，合理保护投资者权益，妥善处置风险。有关部门将依法严肃查处拒不停止的代币发行融资活动以及已完成的代币发行融资项目中的违法违规行为。

三、加强代币融资交易平台的管理
本公告发布之日起，任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务，不得买卖或作为中央对手方买卖代币或“虚拟货币”，不得为代币或“虚拟货币”提供定价、信息中介等服务。
对于存在违法违规问题的代币融资交易平台，金融管理部门将提请电信主管部门依法关闭其网站平台及移动APP，提请网信部门对移动APP在应用商店做下架处置，并提请工商管理部门依法吊销其营业执照。

四、各金融机构和非银行支付机构不得开展与代币发行融资交易相关的业务
各金融机构和非银行支付机构不得直接或间接为代币发行融资和“虚拟货币”提供账户开立、登记、交易、清算、结算等产品或服务，不得承保与代币和“虚拟货币”相关的保险业务或将代币和“虚拟货币”纳入保险责任范围。金融机构和非银行支付机构发现代币发行融资交易违法违规线索的，应当及时向有关部门报告。

五、社会公众应当高度警惕代币发行融资与交易的风险隐患
代币发行融资与交易存在多重风险，包括虚假资产风险、经营失败风险、投资炒作风险等，投资者须自行承担投资风险，希望广大投资者谨防上当受骗。
对各类使用“币”的名称开展的非法金融活动，社会公众应当强化风险防范意识和识别能力，及时举报相关违法违规线索。

六、充分发挥行业组织的自律作用
各类金融行业组织应当做好政策解读，督促会员单位自觉抵制与代币发行融资交易及“虚拟货币”相关的非法金融活动，远离市场乱象，加强投资者教育，共同维护正常的金融秩序。

This is certainly very sad, when cryptocurrency industry is growing rapidly precisely china banned ICO government. I hope this does not impact too much and ICO continues to grow in the future.

[handsomes]

Its very sad because china is the biggest population in this world maybe if the china will not banned may possible the bitcoin increase but the ICO officially banned so the industrial transaction is low unlike before.

[kotulo]

The news you bring is quite practical, but I think in China they have quite a few ways to do everything

[meliastor]

Chinese country is the most complicated and many rules, I'm not sure this rule will make chinese people stop making coin (ICO). Chinese people are so creative, so even though in banned they will continue to work because this is profitable.

[tikanima]

There is always a workaround. Anyone who wants to invest will invest. Not surprisingly this news. But we notice that after this news it is heavily affected in the cryptographic market. As we know the market will return at any time. There will always be an exit. I see this ban will be lifted when they offer a way to tax properly

[marlonbatotoy]

This is to protect china people being scam.. Because some of ICO's is scam not all but so much.. I dont think they control the people of china to create any ico. It's easy to say that it's banned.. But it's difficult to do.. Because they have a large of people they control it that quickly

[Lalapo08]

Every country is free to set its own policies. Every country understands the best for its country. I will only convey a bit of my analysis if China really prohibits ICO. China is one of the most influential countries in Asia, including in the field of currency technology (crypto currency). China as a country that has the most population of this world. Most of its people are as players in crypto currency. I can not imagine if China does not follow the business rules in crypto currency then the market will look down.

[Julasic]

Chinese are known for enterprising and business well management so they know how value their money and how to deal with thia crypto. I guess China government are trying to protect their countrymen from scams and frauds from this way of business. They don't want decentralized system because its a risky one , so they are trying to create one , more centralized and safe.

[vochau026]

Well, its not really a matter.  ICOs will be regulated in the end in every country.

[beautifulliar240]

When I heard this news, I was afraid that the neighboring country of China will banned ICO, but as of now it is not. And Im glad that we will not suffer as what have China did. Because we all know that ICOs have a lot of benefits if give us. But I think China did this to prevent people from scammers and such.

[samuelphedra]

When I heard this news, I was afraid that the neighboring country of China will banned ICO, but as of now it is not. And Im glad that we will not suffer as what have China did. Because we all know that ICOs have a lot of benefits if give us. But I think China did this to prevent people from scammers and such.

[aenin2764]

I think thevreason  that last time were so maby scams, hovweverit is not so honest for really goid projects. Ban it is very strict way. I think will be better to invent new solutions of scam detecting or ico verification.

[greydking]

It seems like it's a policy of the Chinese government to protect the citizens from fraud with the ICO projects. Because there are many ICO projects created by someone to treat investors

[sekhan1990]

Well this is a big blow to NEO because without ICOs the growth of NEO will be stuttered but i have been a victim of many ICO scams so i will say this is a step in the right direction, until there is an authentic way of identifying a good ICOs many countries will start banning ICOs 

[komjhq]

Well this is a big blow to NEO because without ICOs the growth of NEO will be stuttered but i have been a victim of many ICO scams so i will say this is a step in the right direction, until there is an authentic way of identifying a good ICOs many countries will start banning ICOs 

It often seems to me that the ico companies in China are wearing everything was very specific, since all these manipulation of news can be created artificially and the person in this matter is the Chinese government. in any case, until now most of the Chinese companies were not only promising, but also honest.

[Superturacoin]

Well this is a big blow to NEO because without ICOs the growth of NEO will be stuttered but i have been a victim of many ICO scams so i will say this is a step in the right direction, until there is an authentic way of identifying a good ICOs many countries will start banning ICOs 

It often seems to me that the ico companies in China are wearing everything was very specific, since all these manipulation of news can be created artificially and the person in this matter is the Chinese government. in any case, until now most of the Chinese companies were not only promising, but also honest.

That's, why market is encountered dump right now due to the issues but I think governments in china has a reasom why they banned but unfortunately it always have solution to operates the people in china community as they still believe on the possibilities. So better to wait for the things.

[hoanghon666]

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. 

[Volk-05]

Given that there are so many fraudulent projects, I'm not surprised in China's decision.

[angchosenone]

I believe it's an approach of the Chinese government to shield the subjects from misrepresentation with the ICO. As we probably am aware there is numerous ICOs turned into a fake, and China's acting rapidly to make controls on it. Nothing terrible can happen if each ICO engineer records their name on the official government rundown to wind up a legitimate organization. CMIIW.