Chinese government banned all of ICOs

[icreative998]

https://www.sosobtc.com/article/23790.html

Chinese government recognized all of ICOs are illegal,all of related platforms must stop offering services for ICO projects,it seems that is just a start,the regulation of ctyptocurrency is on the way.
Some ICOs refund to their investors already,but this event has an effect on cryptocurrencies including bitcoin,the prices droped seriously.
How do you think of that? Good or bad?

Because China is so populated, their governments fear a new currency will cripple the economy, not control the ctyptocurrency. So I think this problem will greatly affect the price and development of ctyptocurrency. Because China is a fertile market

[Ng93]

This is old news, and I think it is the right decision of the Chinese government. There is a lot of risk in ICO companies. The government immediately protected itself from the possibility of losing money. I am also sure that China, as a Republic with a Communist system, does not give the right to many who want to become richer than others. Communism is equality. And this is the main reason for the ICO ban in this Republic.

[maxreish]

Nothing we can do if that's the decision of their government, the only thing we can do now, is to respect the decision that they made about ICOs.

[capn]

It is just the ICOs released in China and maybe also forbidding their citizens to participate in ICOs though this can be so hard to implement since there are now so many moneyed Chinese and they can go abroad to do what they want. But China govermant has binance for cryptocurrency.

If they want to continue working with ICO, they will find a way to bypass this blockade. This is a good method of making money. So there ways to solve this problem.

[MalcolmBee]

The same opposers have argued against the ICO industry, by stating that the novel startup funding method has gathered so much hype and mania that there remains little sensibility or sustainability behind an otherwise interesting concept.

[Javed zaman]

China has almost every social media sites then this is not a big surprise.

[ChemisTea]

For now this event greatly affects ICO industry. Sure the people will find ways to bypass, but the regularization must be of a good cause for the country itself. This move is probably to avoid losing money from scams and hacks. Which is a good move for the citizens of China.

[gamechangers]

Apart from the fact that the Chinese government has not been showing any support for cryptocurrency, I seem to like this move in a way. For one reason that majority of the ICOs are now scams. ICOs may be completely scrapped in future if there is no proper way to screen and certify the projects before people invest.

[Vanes_brz]

Of course it's bad news. China has a very tough government.. I think that the ICO ban will affect the price.. a lot of companies are opening there and what they will do is not yet clear

[maloibtc]

I think that the Chinese government will accept btc and ICOs in the nearest future after they understand that they need to choose the best coin to use and benefit from  the advantages offered

[vual]

Appears like the actual Chinese language federal government gets increasingly more rigid particularly along with cryptocurrencies as well as while there is some rip-off within these types of icos, that's most likely the reason why these people prohibited this. This really is great although, because we will have much fewer rip-off icos, as well as rip-off icos will be much more scared because of the rigid guidelines produced by the actual Chinese language government. I believe icons have to be much more controlled, at this time these people seem like a simple rip-off technique.

[bits4books]

The asian cryptomarket is very powerful, that's why the chinese ICO Ban affected the whole market and everything dropped. Each time an asian trading site listed a certain coin this coin increased highly. So we hope that the chinese government will overthink their decision. In the end we think that cryptocurrencies are the future and they can't be stopped long term.

I really say I'm very powerful and banging all ICO is not a good sign for all of us. But still we have opportunities to join more projects because many of Chinese people using ICO to earn money.

[adjudicator]

https://www.sosobtc.com/article/23790.html

Chinese government recognized all of ICOs are illegal,all of related platforms must stop offering services for ICO projects,it seems that is just a start,the regulation of ctyptocurrency is on the way.
Some ICOs refund to their investors already,but this event has an effect on cryptocurrencies including bitcoin,the prices droped seriously.
How do you think of that? Good or bad?

Yeah, before when China banned the cryptocurrency at their country it has a effect to the market, bitcoin goes down but it not takes a month, because a month from that situation bitcoin start to goes up again, although it is a bad thing, there are still lots of countries that appreciate bitcoin and other cryptocurrency.

[Starving_Marvin]

I agree that the prices will be high as soon as possible because of such news. As China is a powerful country in the global economy, and any of its actions are reflected in everything. Therefore, it is worth thinking about such projects, maybe it's really not the content to join them.

[Ailmand]

https://www.sosobtc.com/article/23790.html

Chinese government recognized all of ICOs are illegal,all of related platforms must stop offering services for ICO projects,it seems that is just a start,the regulation of ctyptocurrency is on the way.
Some ICOs refund to their investors already,but this event has an effect on cryptocurrencies including bitcoin,the prices droped seriously.
How do you think of that? Good or bad?

I think the Chinese government is just controlling how the ICOs could affect their own cryptocurrency market as well as the coins that originate in their locale, plus the ICOs that also come from their country. China is a big country, and so, it is also a big market, even for cryptcurrency, and that's why, they would try to give a boost to local cryptocurrency activities because they can also take advantage of it such as the case of NEO. Many people believe that NEO is a counterpart of Ethereum, and it would not reach that level if not for the strategies done by developers in China.

[TopT3ns]

It is just the ICOs released in China and maybe also forbidding their citizens to participate in ICOs though this can be so hard to implement since there are now so many moneyed Chinese and they can go abroad to do what they want. But China govermant has binance for cryptocurrency.

If they want to continue working with ICO, they will find a way to bypass this blockade. This is a good method of making money. So there ways to solve this problem.

1 thing that can be problem is KYC system, if ICO that make investor do KYC because they don't want to get any problem with regulation from blocked country. even with big money, almost all ICO projects really follow that regulation

[Kb4real]

It's good it was ban then since they are using it to protect their people from falling for scam ico.

[Labay]

https://www.sosobtc.com/article/23790.html

Chinese government recognized all of ICOs are illegal,all of related platforms must stop offering services for ICO projects,it seems that is just a start,the regulation of ctyptocurrency is on the way.
Some ICOs refund to their investors already,but this event has an effect on cryptocurrencies including bitcoin,the prices droped seriously.
How do you think of that? Good or bad?

Common sense, it is bad.  Did you think that it was good when you get some investor using ICO's then they banned it? Of course it was bad.  It could affect bitcoin too much and that's why the price was still going down.  This forum or other sites was work because of the ICO's and the China was the one who are the one who create much ICO's and now the forum getting work slowly and people get tired from this and invest to another investment.

[Spontebob]

This is not good in crypto community. I hope the price of bitcoin will recover.

But the Chinese community is really vital in crypto space so hopefully they find other means on how to deal their cryptocurrency investments.

There’s an article regarding China producing their own cryptocurrency: https://m.scmp.com/business/companies/article/2118468/chinas-central-bank-studying-its-own-digital-currency-even-it

So the reason why they are banning te use of bitcoin and any other cryptocurrency even when there’s a lot of chinese who are investing and involved in bitcoin is because the country is planning on producing their own cryptocurrency

[Goodnuel]

That's not a good news for the crypto world considering that a good number of investors are Chinese. News like this will always affect the price of Bitcoin and in turn the alts, but eventually, we will bounce back. Its only a ban, it can be lifted anytime.