Beijing 12 September-Sun Guofeng, Director of the People’s Bank of China Institute of Finance, says that the ICO ban doesn’t prevent Fintech Company or technology companies to continue to explore blockchain technology. Financial technology is risky in its nature and regulation is necessary. China shall establish sustainable regulation technology mechanism to promote appropriate internalization of regulatory costs.
The report shows that the authority wish to preserve the exploration on blockchain while restricting illegal fundraising through ICO.
http://news.8btc.com/pboc-official-encourages-blockchain-development-despite-ico-ban
