[2018-01-26] Chinese Official: New Regulations for 2018 May End ICO Ban

[davey76]

China’s People’s University Law School vice-president Yang Dong has let slip the country is preparing new regulation on cryptocurrency and ICOs for 2018. Sorting ‘Good’ From ‘Bad’ ICOs Speaking at the Southeast Asia Blockchain Summit, Yang, who is also director of the Center for Financial Technology, further “denied” a blanket ban on cryptocurrency trading and ICOs would continue indefinitely. China has enacted a major clampdown on how citizens can legally access and trade cryptocurrency in the past six months.

More at: http://bitcoinist.com/chinese-official-new-regulations-2018-may-end-ico-ban/

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[J. Cooper]

I already had a suspicion that the current regulation regarding ico's would only be temporary until a more suitable regulation has found the light of day. And that happens to be the case right now. I wonder if this will impact the price of bitcoin in the same way as the news of them 'banning' ico's in september did. But this time in a positive fashion. Could be a catalyst to get us out of that short term bearish trend.

[darkangel11]

I knew this was going to happen. Nobody will turn their back on money that easily. Their ban was just a scare to show people what they can do and how it may end if they don't follow the rules. That's what governments do and communist governments like the one we're talking about here have perfected this art.
I bet the regulations will include some form of additional payment for crypto services, a special tax to make the time spent on all the paperwork pay for itself.

[richardsNY]

What a disappointment, but not surprising. Most people with enough brain cells to think further know that it was nothing more than an attempt to buy time. It's a typical China move to put something on hold instead of letting it move further away from them, which gave them enough time to come up with better fitting regulations. I think what might have played an important role as well, was how the P2P markets gained so much usage after their exchange shutdowns, that it got them worried big time. On the other hand, let's not take this for face value -- we have seen enough rubbish/fake articles to remain conservative in this situation.

[Carlton Banks]

I already had a suspicion that the current regulation regarding ico's would only be temporary

I knew this was going to happen.

What a disappointment, but not surprising. Most people with enough brain cells to think further know that it was nothing more than an attempt to buy time.

Let me put it this way:

1. Chinese government officials would have to be pretty stupid not to take the opportunity to buy the market dip this stimulated
2. Chinese government officials would be averagely smart to only ban trading & ICOs so that they could buy the market dip this stimulated.

Smarter than the South Korean officials, who mis-calculated how short the average South Korean serf's loving citizen's memory lasts.

[bitae]

What's up with China? I hear them banning crypto every couple weeks.. What gives? Seems like blatant market manipulation?

[1Referee]

What's up with China? I hear them banning crypto every couple weeks.. What gives? Seems like blatant market manipulation?

There is so much money involved in this market, that even on government level there are entities looking to take advantage of the noobish nature of most of the "investors" in this market. We have seen JPM CEO do the same, we have seen South Korean officials do the same. It has become so normal, that I don't even take it serious anymore. I just use their market manipulation attempts (in case successful) in my advantage to trade the volatility as result of that. Do you guys remember how each time the price went up significantly back in the days, China popped up with a certain announcement taking the price down again? It happened so frequently, that even Donald Trump would understand that it wasn't coincidence anymore.

[error08]

"May" or probability isn't enough, if China regulators have decided to allows cryptocurrency trading or ICO again, bitcoin price will increase obviously as there are many investors in there.
But, miners and exchanges have moved out of the country, what makes them (China government) thinks that they (exchanges and miners) will come back to China? It takes a lot of resource and thousands of dollars even hundreds of dollars to establish new headquarters in the other countries such as HongKong, Singapore, Ireland or Canada.

[wonderful8]

Stupid chinese government, don't really know what they want. They stupidly enough to ban the trading of bitcoin there

[vit05]

Will they launch a centralized currency to buy all the others? If they do some regulation but still allow direct investment in Bitcoin, it would be revolutionary and would put Bitcoin worth more than $ 100,000.