I have been expecting this all along. The recent big boom of the ICO market...even bigger than the crowdfunding scheme used by many in the past...has already caught the attention of the authorities...this time from the Chinese government. I understand that Chinese buyers of ICO are increasing at an alarming rate. With the government always watching the movement of the money of its people, it is just a matter of time for them to establish regulatory framework for ICO issuance and participation.
Many ICO issuers have already shied away from the USA market because of unclear regulatory pronouncement on ICO and they don't want to get entangled in possible legal actions from the government. Now, I am then hoping that Chinese government will not ban ICO participation for its citizens and would just get stricter and clearer on its policy regarding ICO investment.
In fact, many Chinese companies can also take advantage of the same ICO market because I am sure that many investors are interested in the burgeoning Chinese market.
Many ICO issuers have already shied away from the USA market because of unclear regulatory pronouncement on ICO and they don't want to get entangled in possible legal actions from the government. Now, I am then hoping that Chinese government will not ban ICO participation for its citizens and would just get stricter and clearer on its policy regarding ICO investment.
In fact, many Chinese companies can also take advantage of the same ICO market because I am sure that many investors are interested in the burgeoning Chinese market.
Good point. Can Americans entrust their bitcoin to some foundation for ICO investment?
