Topic: [2017-09-14] Coremedia.info -Komodo Advocates Freedoms with Decentralized ICO (Read 1584 times)

Original http://coremedia.info/blockchain-news/item/933-central-banks-on-icos-and-komodo-team-is-fighting-back

Central Banks New Found Protectionism on ICOs and How the Komodo Team is Fighting Back

3rdstryker
 Komodo revolutionizing ICO's with its own Decentralization platform
The world has seen a surge in Initial Coin Offerings (ICOs) over the past year with investors throwing billions of dollars at hundreds of different decentralized projects. Once again, technology has moved faster than the centralized governments around the world and it is only recently we are witnessing a reaction from some of those governments. Just when we were beginning to get clarity over Bitcoin’s legal status as a legitimate investment vehicle, governments are beginning to urge caution over participating in ICOs.

First was, of course, China with reports of China temporarily banning ICOs for more regulated ICOs conditions. According to the People’s Bank of China, the selling of decentralized tokens is "illegal and disruptive to economic and financial stability”. Such statements are questionable at best, for funding ICOs actually increases economic and financial stability worldwide. This statement can easily read between the lines; ICOs are harmful to their currency, the yuan. Essentially what is occurring is a new flavor of protectionism where central banks around the world are concerned that their country's currency will flow overseas to fund overseas projects rather than within its own boundaries. Because the central banks represent their countries at large, it is not surprising to see such measures being put in place. However, do regulations and bans on ICOs advance the human race or does it retard growth?