China's Central Bank Declares ICO Illegal

[tanghere02]

So that's the reason why the altcoins now mostly are all red. Even bitcoin dumped it price too. Does anyone have a link to the news or page about this issue? This will be a huge impact especially in the ICO industry because most of the huge investors came from China's market itself.

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[bct_ail]

Here is a really very helping link:
https://www.reddit.com/r/NEO/comments/6xz6tl/how_china_banned_icos_and_how_you_can_benefit/

[aretebit]

So that's the reason why the altcoins now mostly are all red. Even bitcoin dumped it price too. Does anyone have a link to the news or page about this issue? This will be a huge impact especially in the ICO industry because most of the huge investors came from China's market itself.

Bitcoin is falling after being defeated in $5k wall.
You have the link in OP's post.

Yes news are dramatic, about 400 millions $ of ICO's raising this year came from China. In long term however, Chineese will come back to ICO market with regulations, the same thing happened when they banned bitcoin.

[sevenmiles]

ICO already banned in US, most ICOs do not accept US investors, and
"In the United States, only accredited investors can be offered private placements of securities, and the onus is on the issuer (in this case, the token sale dev team) to ensure that only accredited investors take part, lest they expose themselves personally and their company to potential criminal liabilities in the United States."
normal people cannot participate in the future according to SEC, except Wallstreet

[aron_folioninja]

hmm now the trick is, when to pick the bottom to get some good buying...

[asriloni]

So that's the reason why the altcoins now mostly are all red. Even bitcoin dumped it price too. Does anyone have a link to the news or page about this issue? This will be a huge impact especially in the ICO industry because most of the huge investors came from China's market itself.

Bitcoin is falling after being defeated in $5k wall.
You have the link in OP's post.

Yes news are dramatic, about 400 millions $ of ICO's raising this year came from China. In long term however, Chineese will come back to ICO market with regulations, the same thing happened when they banned bitcoin.

I'm thinking of that too, the ban itself will be temporary, many rich people in china will demand the regulation to be repaired. ICOs is actually just a people trying to raise funds to boost their project growth and china seem to not understand this.
but by the time goes, china will soon see the importance of ICO for some people.

[shirokumo]

What will happened to NEO after this news?

[WBVC]

The press is having a field day with this...

The government move should “help cool down the market and sweep away bad actors,” said Jehan Chu, whose crytocurrency hedge fund Kenetic Capital has invested in Chinese ICOs. He said he hoped regulators would allow some forms of digital currency financing later. “I don’t think they’re trying to kill it.”

WSJ story: articles/chinas-ico-ban-brings-bitcoin-back-to-earth-1504526144?mod=e2tw

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9?r=UK&IR=T

[bitorama]

What are most known Chinese ICOs?
1-NEO
2-?

For the first 50 in coinmarketcap.com, there are NEO, Qtum, Hshare and Binance

[Mi5h0]

Everyone knew this is going to happen.. Short term, this is bad news because people will trade on their emotions - namely fear today - but long term this is good news for blockchain technology. A ban on frothy/bubbly ICO's that are abusing investors with nothing more than a flashy website, a colored paper, and (maybe?) a few lines of code - thank goodness for cutting some of the fat off the steak.

[bitcoinvestor]

With all the money that was going out of CHina because of these ICO, the government had to do something! In my opinion the downtreand has just begun and more of this will follow

The money going out via ICO doesn't have so much. The ICO impacts the IPO and the stock market. Probably it's the reason for the illegal statement.

The old trader jealous with ICos that are succesful.More traditonal traders move to ICO. Tht why ?

[PaulEngelbertink]

The link is dead, is it fake news?

[Mi5h0]

The link is dead, is it fake news?

No, it's not fake news. Here's the new link
https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal

[Arkann]

Since the Central Bank of China declared all ICO to be illegal, this would mean a reduction in the release of new coins into the digital market. And as a consequence of this, part of the flow of money will be invested in old proven coins, including bitcoin and ethereum. I see no reason for panic. Perhaps all for the better.

[examplens]

Everyone knew this is going to happen.. Short term, this is bad news because people will trade on their emotions - namely fear today - but long term this is good news for blockchain technology. A ban on frothy/bubbly ICO's that are abusing investors with nothing more than a flashy website, a colored paper, and (maybe?) a few lines of code - thank goodness for cutting some of the fat off the steak.

I agree with you. I hope this will bring a less new ICO's therefore, higher quality should also be expected in the future.

[btcholder]

That's really bad. Every altcoin dump include bitcoin. I don't know why they did it. Can anyone tell me is this rules create bad effect for bounty programs and new campaign?

[Hyperme.sh]

China's Central Bank Declares ICO Illegal

“He” predicted this 2 days before it happened. And he is predicting that it will eventually destroy all ICOs, not just ones in China:

Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

[sui_generis]

China's Central Bank Declares ICO Illegal

“He” predicted this 2 days before it happened. And he is predicting that it will eventually destroy all ICOs, not just ones in China:

Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

That guy is a self aggrandizing dimwit. He didn't predict anything. People were already aware that ICOs would eventually be stopped in 2014. All you had to do was read the FINCEN guidance on decentralized cryptocurrency. If anyone is in doubt of this, just look through the Monero speculation thread around the time of the Ethereum ICO.

[woas4]

China's Central Bank Declares ICO Illegal

“He” predicted this 2 days before it happened. And he is predicting that it will eventually destroy all ICOs, not just ones in China:

Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

Maybe this is for the best - since we are using trustless blockchains and systems, it would be nice to have an ecosystem with trustless launches and development aswell - maybe we'll see another way of presenting or funding ion the future

[itsonlikedonkeykong]

Time to drain the ICO swamp in China?