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

[btcholder]

It's really sad news for investor and bounty hunter. China market is too high. So for there dissition market is dump. Every altcoin is dump. If Korea or Japan band ico investment then market will going to dead. There will be no chance for bumping 1/2 months. Hope they will not take a dissition like that.

[Calangaman]

2 sure things.
1/ Most ICOs are scams or have little potential.
2/ No regulation can prevent a fool to go for ICOs

[nakata90]

China's mines the world's largest peach BTC and many other Altcoin, if China tighten Altcoin ICO, all will drop. Japan and Korea are just beginning to accept BTC in recent trading. All Altcoin depend too much on China, including ICO.

[shyliar]

Virtually every country in the world will either ban or regulate. There is a reason IPOs have to stand up to a minimum standard of regulation. It's simple because historically so many issued stocks turned out to be worthless paper. Even with current regulations there have been massive frauds. Bre-X is a good example.

The fact is criminals are attracted to easy money and the current ICO system encourages that. People who don't understand that, really need professional financial advisers to guide them. Not internet forums.

[ticterine]

Virtually every country in the world will either ban or regulate. There is a reason IPOs have to stand up to a minimum standard of regulation. It's simple because historically so many issued stocks turned out to be worthless paper. Even with current regulations there have been massive frauds. Bre-X is a good example.

The fact is criminals are attracted to easy money and the current ICO system encourages that. People who don't understand that, really need professional financial advisers to guide them. Not internet forums.

Couldn't agree more. The regulations are in place to protect investors. That's why the US started regulating securities after the stock market crash in the 20s. Tons of scams were basically robbing investors and it was a toxic environment. When innovation and product development aren't the focus but rather raising tons of money, the market is a ticking time bomb.

I know the FUD in the community is strong right now, but long-term this is a very healthy development for the crypto market. If this regulation/ban didn't occur, the bubble would have eventually burst anyway and the losses would have been greatly increased.

[indrakusumaindra]

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.

china want control their money so much. i dont think its is the right thing to do. what they should do is make a regulation so the cryptocurrency could be use in appropriate way not just take a short cut and band all the ico to raise and distrup the virtual economic.

[bhoybitcoin]

I think Japan will not ban ICOs. I've read some cryptocurrencies being made by Japan. They starting it already and maybe they're thinking about the benefits that they might gain from it.

[sms301]

USA SEC  said ICO's are illegal, nothing happened to the market (https://steemit.com/steem-project/@picokernel/adventures-in-the-sec-almost-all-icos-are-illegal). But when China put an investigation, market almost collapsed. My thought is if Japan and Korea starts to investigate the same, the market will collapse. Even few days ago, we never thought China will do this. But eventually it did anyway. So Can't be so sure about that.

[valuater]

It is true Japan would not do banned against ico, to korea will probably do her but it's not too sure but many Korean interns coin qtum

[nadrojcote]

USA SEC  said ICO's are illegal, nothing happened to the market (https://steemit.com/steem-project/@picokernel/adventures-in-the-sec-almost-all-icos-are-illegal). But when China put an investigation, market almost collapsed. My thought is if Japan and Korea starts to investigate the same, the market will collapse. Even few days ago, we never thought China will do this. But eventually it did anyway. So Can't be so sure about that.

Because the USA only banned ICO's that sell securities (AKA actual shares in the company). Which pretty much no ICO's actually are. They're just no use shit coins that do not represent a share in the company.

China on the other hand banned all, including the shit coin ICO's.

[Kocret02]

I think Japan will not ban ICOs. I've read some cryptocurrencies being made by Japan. They starting it already and maybe they're thinking about the benefits that they might gain from it.

apan is very different from china, i think also so japan seems to be supporting ico anytime, because ico benefits for japan have seen the result. and I think the government will definitely support ico.

[Svelto]

Isn't it China haven't ban ICO? My understanding is that China is investigating the China companies which raised funds from ICO.

Unable to comment about Korea but I do think that Japan is safe since Bitcoin is legal.

[Hyperme.sh]

Japan already legalized the bitcoin …

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada, Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.

The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.

only china goverment banned about ico can't killer ico project, about USA with SEC is very long time not support ico project
i think ico project still can run, without china people
but crypto curency is anonymous, so all china people still can invest in ico project

There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada, Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.

[Matic]

i am thinking this is a good idea. most ICO are frauds anyways. And i do not think china has banned ICo completely, but will allow them if they follow the regulations they will put in place and so will other countries. so only really good icos will be available in the future from those countries that will regulate it.

[yura888]

This market simply needs regulation. But reasonable. Because these prohibitions will not do anything good

[AleSergio]

Isn't it China haven't ban ICO? My understanding is that China is investigating the China companies which raised funds from ICO.

Unable to comment about Korea but I do think that Japan is safe since Bitcoin is legal.

China has banned all ICOs and as it is stated that all funds that were raised, should be trasfered back to merchants. I think it is not the best thing to do, it is better to regulate, rather than just banning everything. About Japan i tottaly agree with you, nothing to be worried about

[Technos]

This might slow down the ICO movement in every country, but it's surely not the end... I think even in China people are already thinking on how to create and invest in ICOs anonymously. The problem is that there will be less transparency in the development of these projects.

[ludbega]

ICOs will not be banned for life from China. Waves will stretch out there. And if Waves wants to go there, well to bring a form of regulation.

For me, there is no problem with regulation. Panic was only an announcement, all players doesn't loose now

[newfulluser]

They are shooting themselves in the foot, that's what I think they're doing

[Karmakid]

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.

I think this is true. Nowadays, there's almost an ICO every month. Imagine how many altcoins were born because of continuous ICOs. I think ICO's should be regulated. But, banning them from big countries would be a bad move. If ICO's will be banned from big countries there would be less investors, altcoin value would be lesser. It's better to regulate them than to ban.