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Author Topic: China just killed the ICO market. Which ones are Chinese?  (Read 5137 times)
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September 06, 2017, 01:04:31 PM
 #101

Don’t be panic. Calm down. That was only a matter of time, that the Chinese are going to regulate the market. They want to get a piece of the cake, they want to get more tax. There will be an agree between the government and all the ico's in the future.
Altcoins will do further down because of all the panic sell. So time to buy in the future with low prices.

yes there is no need to panic soo much.China will definately lift the ban.Is not over for ICO's in China.
Neo will rise up.

I don't know how Neo will be in future, but there will be solution for those Chinese ICO dev..

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September 06, 2017, 01:05:21 PM
 #102

I do not think that it is necessary to panic so much. Yes, the news is not good, but everything will improve with time

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September 06, 2017, 01:23:23 PM
 #103

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada, Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.
The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.

only china goverment banned about ico can't killer ico project, about USA with SEC is very long time not support ico project
i think ico project still can run, without china people
but crypto curency is anonymous, so all china people still can invest in ico project

There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada, Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.

Yes there are scammers so the more regulation the better. But just on a factual point, the US hasn't banned ICOs. The only country with an outright ban is China.

Also this article in the Chinese financial press points out the following, among other things:

For the current Chinese domestic ICO regulatory policy, some industry insiders say they would consider moving relevant ICO token issuing and trading to overseas.

Well-known cryptocurrency trading platform Bitcoin China (BTCC) announced on September 2 that it decided to suspend the listing of the ICO token ICOCOIN. According to ICOCOIN official Weibo account, on the day before, September 1, this ICO token was listed on European trading platform C-CEX. The platform is headquartered in Germany, the main users are from EU countries, the United States and also have a certain number of users from China.

What happens if Chinese nationals decide to continue to invest on an overseas platform? A regulatory official told reporters that this is considered an international investment. They are taking their own risks and if anything goes wrong, go and find the foreign government for protection of rights.
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September 06, 2017, 01:48:24 PM
 #104

The Chinese government is trying to prevent people to make use of ICO to get free money without any real project/product.  It is a good things for blockchain/cryptocurrency industry in long run.  It is better to happen now to cause a correction, rather than bubble or big crash in future.

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September 06, 2017, 01:59:59 PM
 #105

The Chinese government is trying to prevent people to make use of ICO to get free money without any real project/product.  It is a good things for blockchain/cryptocurrency industry in long run.  It is better to happen now to cause a correction, rather than bubble or big crash in future.
i agree with you, the regulation is good news for long term, but most people will be panic to sell their coins, also there are some people spread some fake info on purpose

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September 06, 2017, 02:05:58 PM
 #106

Don’t be panic. Calm down. That was only a matter of time, that the Chinese are going to regulate the market. They want to get a piece of the cake, they want to get more tax. There will be an agree between the government and all the ico's in the future.
Altcoins will do further down because of all the panic sell. So time to buy in the future with low prices.

yes there is no need to panic soo much.China will definately lift the ban.Is not over for ICO's in China.
Neo will rise up.

In the future, only high quality ICO will be allowed there. So it is positive eventually for the cryptocurrency as a whole.
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September 06, 2017, 02:28:48 PM
 #107

China doesn't care about fraud or pyramid schemes, they care that Chinese people are getting their money out of China using cryptos.

I think more bad news will come from russia and asian countries especially china, and seeing the rise of us based projects will be good Smiley

The US is not exactly crypto friendly.

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