First China, what are your thoughts on Korea and Japan?

[spencerlearn]

Now that ICOs are banned in China as a swift measure: https://qz.com/1069113/ethereum-eth-price-plunges-as-chinas-central-bank-declares-icos-illegal/

What do you think about markets like Korea. Saw that the regulators are also thinking of banning ICOs. How about Japan?

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[maxsinner]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

[Lucky_U]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

Agree with you. Regulation in ICO's is very important thing and the sooner regulation will come - sooner market will be more stable.

[spencerlearn]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

That's true. Saw the news today that Tron is going to refund their backers from China. Wonder what the impact is for this. Will this also prompt other projects to do the same.

[alyssa85]

Korea is definitely tightening their rules:

https://www.cryptocoinsnews.com/south-korea-tightens-bitcoin-regulations-will-punish-icos-report/

Notably, the report also suggests that authorities will “punish” initial coin offering (ICO) fundraising platforms for violating the capital market act by raising funds through stock issuance using digital currencies.

An FSC official added:

    We will clearly state the foundations of the Act on the Regulation of Conducting Fund-Raising Business Without Permission for illegal fund-raising impersonating digital currency investment and strengthen levels of punishment.

So anyone relying on Korean money to pump their ICO should think again.

[pearlmen]

Now that ICOs are banned in China as a swift measure: https://qz.com/1069113/ethereum-eth-price-plunges-as-chinas-central-bank-declares-icos-illegal/

What do you think about markets like Korea. Saw that the regulators are also thinking of banning ICOs. How about Japan?

Outirght banning will be wrong and its because they feel they cannot control it and even after reading the English version of the release from the Chinese authority, it connotes they are being handicapped in controlling the ways funds moved into ICOs and felt banning it will solve but I tell you, its a matter of days before all this will be put behind us and everything will be back to normal.

[pikadut]

I hope China will be able to legalize ico even with the rules, 
because china is an important part of altcoin as well 

[talkbitcoin]

all the countries already have some rules against ICOs and they must tighten these rules too. because these days the altcoin market (because of ethereum) is plagued with all these scam ICOs which are all acting illegally and it actually is pretty bad for altcoins in general because if things go on like this you can be sure that people will regard altcoins as scams and will only stick to bitcoin.

[SleepMachine]

I think they will not ban ICO. but they must control it to avoid sh*t ICO

[spencerlearn]

all the countries already have some rules against ICOs and they must tighten these rules too. because these days the altcoin market (because of ethereum) is plagued with all these scam ICOs which are all acting illegally and it actually is pretty bad for altcoins in general because if things go on like this you can be sure that people will regard altcoins as scams and will only stick to bitcoin.

For sure, I wonder how should regulators help in this process. It's a balance between the financial market stability and encouraging innovation. It's also really difficult to prevent ether contributions to projects overseas. These are at best half measures.

[muenze]

First of all you got to ask how real are the "news"...

I mean if a BANK says Icos are illegal it does not mean a lot. They always fear competition and in china people love coins and
hate banks. You couldnt even pay for a house with cash in china unless you bring a wheelbarrow of money.

Now of course in china, the banks might be fully or partly owned by the gov so it does say something. But so far I
see no evidence that actually all new coins are banned in china because there is none.

So its a lot of "fake news" just like when the newspapers claimed Hillary would win huge against Trump. Lol

Anyway for japan I only heard there was more regulations too, as MonaCoins is the first japanese coin and
its found real life applications, and might be the next bitcoin, especially when MonaCoin was the ONLY coin
now in the crash to keep rising so thats extremely promising. Imagine bitcoin crashing to $1000 if MonaCoin
again is the only top100 coin to keep rising, it could reach insane heights.

But yeah I read there was some regulations too in japan , like MonaCoin ATMs got some legal issues, but
maybe someone else knows more about the japanese market and can share. Would like to hear it.

[xiaohang07]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

Agree. Recently, a lot of ICOs are basically scams. Before China find a solution for regulating ICOs, banning them all is a effective way to go.

[pigheadbig]

I think it is right to regulate the ICO projects, without regulation, it is very easy to be scam since there is no much escrow for the dev team, also, there will be high risk for the investors, so I support the regulation.

[carlisle1]

Now that ICOs are banned in China as a swift measure: https://qz.com/1069113/ethereum-eth-price-plunges-as-chinas-central-bank-declares-icos-illegal/

What do you think about markets like Korea. Saw that the regulators are also thinking of banning ICOs. How about Japan?

Japan already legalized the bitcoin and it will be a safe place, But about the south korean, the regulator better to think about the north korean as a threat to the country rather than try to waste a lot of their time to the crypto regulation, because south korean already threaten by the nuclear's country. 

good point they will need to focus with their securities instead of wasting their time chasing the crypto's like what US and china did, I think we can say japan
would not be bother since theirs a lots of people who got better discipline in terms of investment and it wont hurt their economy I guess.

[Boov]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

Agree. Recently, a lot of ICOs are basically scams. Before China find a solution for regulating ICOs, banning them all is a effective way to go.

Well i think they will remove that after and makes a filter that all the scam coin will be ban and those promising ico is still available . Agree with you that there are ton of scam coin right now thats why they ban the ICO but it can be revise sooner , that is the biggest bad news for ICOs. Now i think the korea and japan are thinking about it but i dont think so they follow it but if they will i think it is a matter of time

[Taskford]

I don't think that Korea and Japan will do the same with China because those two countries are very positive with bitcoin and they legalized bitcoin because they know that everything is possible with bitcoin.

[miningguru]

There needs to be regulation but banning them all together is not the right solution. However they need to start from somewhere. ICOs in China were already starting to get out of hand with Binance launching like 5 every day. Bitcoin also needed to cool down a bit, so in my opinion this is all healthy in the long term. What you don't actually see is that there are many financial criminals involved in a lot of these ICOs, going in for a quick ROI.

Agree with you. Regulation in ICO's is very important thing and the sooner regulation will come - sooner market will be more stable.

In order to protect the investors from the scam ICO's, many people are expecting some regulation should be maintained by the governments. Without that many people are scam the people with no value, no product, no development will need to be in loss for investors.

[stealth.money]

Some regulation is good, so the scammers have to work harder to get around the laws

[nonlinearboy]

I do think the China will ban all the ICO project, they just want to stop the ico scam, since there is too easy to raise a lot of money with just some whitepaper and some "famous" advisors, it is not a good signal to ICO market in my opinion.

[Morphling]

Now that ICOs are banned in China as a swift measure: https://qz.com/1069113/ethereum-eth-price-plunges-as-chinas-central-bank-declares-icos-illegal/

What do you think about markets like Korea. Saw that the regulators are also thinking of banning ICOs. How about Japan?

no doubt, the regulation will spread all over the world, its necessary, the only difference is how to regulate, i think China is overdoing, ico should not be impose uniformity in all cases