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Author Topic: China Ban on ICO is Temporary  (Read 557 times)
romur1
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September 13, 2017, 03:04:37 AM
 #1

https://cointelegraph.com/news/china-ban-on-ico-is-temporary-licensing-to-be-introduced-official
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September 13, 2017, 03:09:17 AM
 #2

i have always said that whatever China does about cryptocurrency related stuff is always about regulation and to remove all kinds of crimes. this has has been the biggest in terms of news. they started coming down on exchanges that were laundering money. and now they have started with ICOs which have been scamming people.
all i see is a good approach but yet people panic sell for some reason!!!

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September 13, 2017, 03:12:20 AM
 #3

If this is actually legit, whereas ICOs are only currently sort of halted and not totally banned, then I wouldn't be surprised if we went back to a bull market again soon.

"Essentially, if the government decides to legalize and regulate the ICO market, its licensing program would structure similarly to the BitLicense program of New York State Department of Financial Services (NYSDF), which requires companies to obtain a license from the state in order to operate and serve people of New York."

Keyword here: if

Take note that based on what the article said, it also isn't 100% guaranteed that  China will indeed legalize ICOs. Though I hope the legalization will push through, as China has a significant effect in terms of cryptocurrency markets or any markets in general.

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September 13, 2017, 03:13:51 AM
 #4

Good to hear that. The panic is just too much..

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September 13, 2017, 03:14:54 AM
 #5

Lol I can see this coming, really. Chinese people just wanted to buy coins at low price that is why they created a drama so that coins will go down.



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September 13, 2017, 03:18:56 AM
 #6

We know it, and maybe they are now ironing out those regulations. I think this is a great move for china and to protect the consumer or investor from ICO fraud.

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September 13, 2017, 03:21:19 AM
 #7


That will be a good news to all people engaging in bitcoin especially the chinese bitcoiners it means that the bitcoin value trend will steadily going to up fast from slowing it up for the past weeks  if we will not include the chinese investor on board. I really believe china shall think of it carefully because these will matter to their people most.

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September 13, 2017, 03:22:20 AM
 #8

Lol I can see this coming, really. Chinese people just wanted to buy coins at low price that is why they created a drama so that coins will go down.

Anyway, for some reasons markets have to correct after a long journey. Bitcoin prices from 1500+ went all the way to 5000 marks and it was looking for some reason to correct. This is the time we also shouldn't miss the opportunity to buy some more to make a good profit. But remember don't buy everything at one time instead buy in small quantities to get a good average price.

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September 13, 2017, 03:25:00 AM
 #9

Maybe they're posturing leading up to and during their annual financial committee meetings, but let's be honest here. Is there anything we can trust coming out of that country? No.

I'll believe it when I see it and until then the people of the..err...People's Republic of China can find numerous other exchanges to get their transaction activity conducted.

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September 13, 2017, 03:39:32 AM
 #10

Yes, it is temporary until they buy up all the dumpers coins and then they will "unban" it. China is so smart... Cheesy



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September 13, 2017, 03:40:07 AM
 #11

this is really silly ,, is this just a china game only.
many people are deceived and sell the bitcoin.
but we all don't know what the real china plan,
From the first china always make a scene of crypto world

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iamTom123
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September 13, 2017, 04:02:32 AM
 #12

If this is actually legit, whereas ICOs are only currently sort of halted and not totally banned, then I wouldn't be surprised if we went back to a bull market again soon.

"Essentially, if the government decides to legalize and regulate the ICO market, its licensing program would structure similarly to the BitLicense program of New York State Department of Financial Services (NYSDF), which requires companies to obtain a license from the state in order to operate and serve people of New York."

Keyword here: if

Take note that based on what the article said, it also isn't 100% guaranteed that  China will indeed legalize ICOs. Though I hope the legalization will push through, as China has a significant effect in terms of cryptocurrency markets or any markets in general.

We are all hoping that eventually Chinese authorities would return to the table and this time with all the required lists for an ICO project to be granted the necessary permit to operate business in China. That is much better than to have a total ICO ban and at the same time it will deter scammy projects to pursue accreditation. It can mean that only a few can pass the stringent regulation but that would be preferred than the blanket ban they are having right now.

I am hoping that soon or maybe by next year, the China government can come up with the platform on which ICO projects have to based on. We are all aware of the enormous effect China have on the global cryptocurrency market and though I also believe that this industry can survive without China still having them can be a big boost we can not discount with.
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September 13, 2017, 04:31:26 AM
 #13


It doesn't matter if it is temporary or not. The market is moved by sentiment and nothing else. Even rumours of a proposed crack down on bitcoin exchanges has resulted in the price plummeting. Only when the government changes its mind and actually introduces licensing of ICOs, will the sentiment change. Until then, sentiment (especially about China) will continue to remain negative.

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September 13, 2017, 04:37:16 AM
 #14

Dont really care about the banning, the ICO banning wont affected bitcoin too much, in the end the price will healed again, the one that going to be affected is the ICO from china which no one will invested again,so the government is the one that destroyed the investor trust and the growth crypto currency from china will be troubled

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September 13, 2017, 05:01:58 AM
 #15

This is a good news for all of us. Hopefully those who panic will have their confidence back again. Maybe China did that to regulate the use of bitcoin in illegal ways. Though it wont affect that much but still this is good to know.
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September 13, 2017, 05:50:06 AM
 #16

i still don't understand why people try so hard to relate this to bitcoin!
all these news regarding past weeks are about ICOs and there are no ICOs on bitcoin and a very small percentage of them even accept bitcoin! they are based on ETH and they also accept ETH!
but people still panic over bitcoin!

and the drama about exchanges is also not new! Chinese central bank PBOC has been studying them for months. it even started last year. and they even suspended their work for a couple of months this year. and this is the follow up to the same inspections.

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September 13, 2017, 06:26:15 AM
 #17

don't believe 100% of the stories are prepared in a scenario
https://cointelegraph.com/news/is-china-really-banning-bitcoin-exchanges-or-is-it-fake-news
they make such an issue just for profit , cryptocurrency is not only in china alone.
although many Bitcoin miners are from china but that does not mean china can have full access to cryptocurrency.

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September 13, 2017, 06:29:42 AM
 #18

Good to hear that. The panic is just too much..

The panic is intentional. A lot of pretty new accounts "planted" quite a number of threads only in this forum to increase the uncertainty.
Somebody has panicked when the price reached $5000 and now tries to buy Smiley
The fluctuations are normal. I expect one more rise and then one more fall in the near future.

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September 13, 2017, 07:17:04 AM
 #19

Good to hear that. The panic is just too much..

The panic is intentional. A lot of pretty new accounts "planted" quite a number of threads only in this forum to increase the uncertainty.
Somebody has panicked when the price reached $5000 and now tries to buy Smiley
The fluctuations are normal. I expect one more rise and then one more fall in the near future.

if it was deliberate just to lower the value and they bought it, then now is the advantage to buy bitcoin / altcoin for those who believe that the price will increase again.

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September 13, 2017, 11:52:36 AM
 #20

yes it's sad, as china it's one of biggest important country that can have affected to price value with some their issues.

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