China's Central Bank Declares ICO Illegal

[desticy]

the fait money raised from ICO is not like that much, the figures are just used to exaggerate

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[Benezim]

I was always bad in geography

Hope you are better in investing into the right coins then.

Greetings from Hong Kong (bonus question: is Hong Kong China?)

[Jack Lee2222]

I was always bad in geography

Hope you are better in investing into the right coins then.

Greetings from Hong Kong (bonus question: is Hong Kong China?)

I believe Hongkong is a part of China. By the way, is this statement impact HongKong market?

[benthach]

these chinese and korean markets are pretty much fake, this is when you all giving so much credit to coinmarketcap and he's making a killing.
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
also the chinese can create and participate in any ICO freely all they need is a VPN

[gaming-stars]

Is there an estimation how much percent of the raised capital in ICOs are actually from China?

How big is the market in China?

And how will the Chinese government know who is investing in ICOs?

it is possible to invest from China in ICOs by using a VPN service...but this will still def. influence the market...

[Siskaver]

What a dick move for China. Freedom down the drain. People should be educated to treat ICO's and crypto in general with great caution but to ban ICO's altogether? More than ETH and other coins going down and affecting my personal portfolio, this is pissing me off on a greater level.

[winnerhor]

All altcoin drop down because this bad news . But i sure all will raise up back just because of some little time . After this , Altcoin will more stronger than before . Let's see

[Jack Lee2222]

these chinese and korean markets are pretty much fake, this is when you all giving so much credit to coinmarketcap and he's making a killing.
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
also the chinese can create and participate in any ICO freely all they need is a VPN

I dont think Chinese can participate ICO from now on. No bank is allowed to provide service for those who are involveed  in ICO market.

[pey]

This is not real crash, it may be worse. I am curious about that if ico is declared as illegal by china's central banks whether chinese exchanges will have to delist some coins.

[n4poleon]

In my opinion, the declaration only does is exclude Chinese people to participate in ICOs, remember that NEO can still conduct ICOs outside china. Just like what EOS did, excluding Americans from participating. And I feel that what is NEO is going to do.

[Hamphser]

these chinese and korean markets are pretty much fake, this is when you all giving so much credit to coinmarketcap and he's making a killing.
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
also the chinese can create and participate in any ICO freely all they need is a VPN

I dont think Chinese can participate ICO from now on. No bank is allowed to provide service for those who are involveed  in ICO market.

If they do impose new law or announce/declare that illegal then they would really mean it and theres no returning back on the words that have been said already.For now they cant really join ICO as of now but there are still some ways on how to join just as being said people can anytime use of VPN.Just be sure on the money you would use on participating not to be traced or suspicious.

[wendelllee]

This is not real crash, it may be worse. I am curious about that if ico is declared as illegal by china's central banks whether chinese exchanges will have to delist some coins.

Those chinese exchanges have delisted some coins. Actually the biggest Bitcoin exchange removed ICOcoin some days ago.

[maurobiasolo]

I think we need to wait October and the Communist Party meeting. They have blocked several investments abroad as well (soccer, real estate, etc) for political reasons. The situation is likely to change soon later.

[mayan251]

The Chinese government should just supervise the ICO all over the board, but there are no other restrictions on the exchange. After that, the situation is fixed. This time it is very strong and everyone is injured.

[KellyCoin]

China has done something like this before with the exchanges. Just have to wait until they propose regulations and everything should rise again. Until then invest wisely in quality coins and follow the news carefully.

[jellybase]

Wow, this is serious, But the will make money, because many ICO are from them. I know I have invested on so many ICO from China. Anyway. the should just move to another country and pitch there nitch.

[LeChatNoir]

Litecoin and IOTA are one of the biggest droppers today after the declaration by China's central bank. I don't mind saying that LTC has maximum investment from china, on Jubi exchange LTC/CNY has fallen deep to history, i see a red blood bath for next couple of days , maybe a week.

[speaktome]

China has done something like this before with the exchanges. Just have to wait until they propose regulations and everything should rise again. Until then invest wisely in quality coins and follow the news carefully.

So that this is the reason of such a great fall in the prices,could be interesting to see how the market continues to behave in the face of such an eventuality.

[wpalczynski]

Litecoin and IOTA are one of the biggest droppers today after the declaration by China's central bank. I don't mind saying that LTC has maximum investment from china, on Jubi exchange LTC/CNY has fallen deep to history, i see a red blood bath for next couple of days , maybe a week.

You should check out NEO if you want to see a heavy drop :p
Honestly I don't seem to find many "light" droppers

[carlisle1]

This is not real crash, it may be worse. I am curious about that if ico is declared as illegal by china's central banks whether chinese exchanges will have to delist some coins.

that's another thing mate if china will do this more crash will happen especially to those project which still not proving its existence
Chinese is very strict when it came to their laws so we cant do anything to avoid this but certainly another country like japan and korea
will step up and push the crypto currency back to its position.