this event is a small bump on the road, Chinese investors will always finds a way to invest in ICO's, but for ICO operator they need to migrate to other country to continue with their operations.
Chinese don’t speculate on illegitimate things. They speculated on ICOs because they could pitch a greater fool message that these were something that would be the future. How can they have that sales pitch when
most of the major nations will eventually be making ICOs illegal?
China, Russia, Singapore, and South Korea have already made announcements. The SEC also warned and will likely make enforcement announcement soon, which will cause another massive crash to lower levels.
Speculators still haven’t digested that this affects all the ICO-issued tokens, not just the China affiliated ones.
More and more crashing to come for ICO-issued tokens. (May get a dead-cat bounce which would be a good time to sell)
The other nations’ security regulators are not going to stand by and do nothing and let their citizens be subjected to scams, while the Asian countries protect their citizens. That would be very embarrassing to Western nations and abrogation of their responsibility and duty. There is already a contagion of a critical mass of nations now. This is unstoppable and ICOs are dead.
can be banning existing ICO
Existing ICO-issued tokens will become illegal, because investment securities are illegal to exchange if not on a registered exchange. And illegally issued investment securities are never legal to trade.
Thus ICO-issued tokens can not be spent decentralized. They are useless because can’t function as a cryptocurrency. At least not legally.