Topic: China declared crypto airdrop illegal. (Read 765 times)

Well China did this not just for the economic reasons but there are many political reasons for this as well. China being the rising power in the world would crush anything that tries to harm its economy.

This position should not even come as a surprise because its their way and they are trying everything possible to ensure that every move to promote the activities of crypto should be frustrated. At first it was war against ICOs but when they realized that ICOs are still thriving in terms of advertisement due to airdrops couple with listing on exchange sites, then its time to try another approach in stifling this new development which is why rather than giving room for discussion or some dialogue, the best cause of action is declaring it illegal.

Airdrop even sucks and I only blame those who end up wasting their time on it. As far as I am concerned, right about now, the whole ICO space has turned to a joke and it is obvious to so many as we keep seeing new shit coins and tokens popping up every day with no real life value, abandoned projects and then you keep asking yourself why people still tend to invest in ICOs when they know all of this? Probably, one of the reasons why we have stopped seeing projects nowadays not hitting their soft caps, let alone hard caps. One way or the other, I assume people got to learn at some point right?

China has always been against anything related to crypto and it makes sense that they ban one aspect of crypto that puts a dark shade on it. With the number of bogus icos that came out the past two years, airdrops are one of the top methods they use to get people onboard their projects.

I really don’t understand why Chinese are doing this. I mean they are more technical people and they surely understand the benefits of bitcoin in coming years. This is really a mystery for me.

We all dont know what will the exact reasons why china declare that airdrop is illegal, in my own opinion, this maybe can cause of waste of time on a project to gives a fair shares to the airdrop participants and to the investors. Therefore the selling after the airdrop is high than to buying, and the projects will definitly near to die. Meaning at the end of the day, investors are just simply spend alot of time on Airdrop because the only one gets a high profits is the airdrop participant.

Since China has banned the ICO and closed the bitcoin exchange, I think Airdrop is the next thing that will be banned. And that happens if what you report is true, so for me it is normal, especially since Airdrop is only aimed at attracting investors by distributing small coins so that investors buy large quantities and leave it alone.

it's true because now airdrop is a scam because there are many coins in the end scam which hurt many people. so I really like China which is illegal in airdrop

Is there actually anything china will not declare illegal? The only thing they have not been able to come out to declare illegal now is cryptocurrency as well as blockchain technology, but when it comes to everything related to ICOs, they are always in the news for finding a way to keep fighting it.

Nonetheless, it is understandable that the rate at which the ICO space is being abused calls for a lot of huge concern and trying to impose strict sanctions is something that would be expected by most developed countries in the long run anyway. The only set of people I blame are the gullible and dumb investors who just want to invest in everything without doing due diligence.

I agree with you! Most of the airdrops I have joined are full of shitcoin. They give useless tokens to their participants so that their coin become popular. I am in favor of banning airdrops because most of the scam projects doing it as a way to spread the project. Coins came from airdrops are waste in our wallet.

Crypto currencies are not ban in China but only the ICOs therefore we should understand that any facilitated activities or projects that will have direct connection to the certain ICO will be automatically considered illegal and will be dealth accordingly if will be caught in which that clearly including the airdrop.

It is not surprising that they have this kind of move because they are already against cryptocurrency in the first place. Trading cryptocurrency for them is illegal so it would already be assumed that anything that involves cryptocurrency would be illegal for them although it is ironic to think sometimes that there are still mining going on in there. One of the reasons why bitcoin price is always going down before is because of China news and there movement against cryptocurrencies so a news like this would not have a major effect in the news anymore.

Every government have their own regulation and i think it just to protect investor from china. Too many airdrop sometimes not good for the price in exchanger and its make investor losing money. Maybe China government want ICOs focus the real project and not giving airdrop to protect their investor from dumping price in market

That's the one way of how China controls everything when it seems it doesn't contribute to their economy but instead let suffer the most people they then eliminate the threat. By suppressing the scammers opportunity it will make them less active on their dirty monkey businesses.
What else could China do again if they make an another dirty opportunity? Let's wait and see.

Well, this is a little funny to me, one of the biggest and richest countries in the world declare airdrops illegal. China maybe seeing something criminal in airdrops, but only thing which I see criminal in airdrops is their value.

Whatever the reason may be, I don't think the move is good. There are upcoming projects who do not want to do ICO, and would prefer to just do an airdrop for their community, and then go on to an exchange. If airdrop is banned, such projects will be affected.

It seems they want to prevent their people from giving away much information. Information is a very important thing so they have assumed that airdrop is an illegal program. It is an act of protecting the people of the government and I support this.

Whatever reason that made China to do that is not an issue to me but as far as am concern,airdrop to me now is worth declaring illegal because is full of scam.99% of airdrop as turn out to be a scam.

Well, we all know the kind of government that China operates, so to see things like this is something expected, but I would not blame them, because looking at the point of everything, it just keeps looking that the ICO space has turned out to be something laughable. Sure, the enthusiasm was there, but as time goes on, we just started seeing a lot of people worldwide tending to abuse it, take advantage of inexperienced investors, raising money for their pockets and at the end having nothing to show for it than polluting the space with more shit coins and tokens. If they stop airdrops, I really would not be blaming them actually. It is their country and it is their call, and judging from the look of things, they have every reason to.

In my opinion, the Chinese act of declaring that the airdrop of the crypto currency is illegal is the right way to remember that the airdrop is being judged to make the price of a crypto currency cheaper, besides that most crypto currencies that do airdrop don't have high selling values or not even once and is considered garbage

You have great point also that the China government were only concern about the welfare of the people so this is a way for them to discourage or to let them avoid in getting involved on so many fraud and scam ICO. Airdrop were also one of the best way to scam people just like the many said that people will going to buy some of their coins after receiving their tokens but still it will just abandoned their project and will run away after they collected some funds from them.

There is no need for this hash declaration. China has to be totally crypto friendly. They cannot accept one part and kick against another. Such acts may create a little panic.

Airdrops are mostly for the ICO and These days there are great percentage of SCAM ICO. This is a good step as it will save people from wasting the time for collecting the coins in airdrop which have very low value or even no value at all.  I think China has taken good step for overall benefit for the people.

Cryptocurrency airdrops are not much in terms of value at the time of airdropping but have the possibility to be a great coin or a shitcoin. Banning it is absurd as people are not forced to do an airdrop is there wish to participate.

of course, in the crypto world I have seen many scammers from my own experience following airdrop, but not all ICO projects that have airdrop are illegal, because I see an average task that must be completed to follow airdrop,

there are still many people who have problems with the economy and the airdrop program from the ICO can alleviate their suffering, if the airdrop is closed then it sounds like selfishness, and let those who have economic problems suffer more, isn't that really cruel

Even airdrop as of now is not too good but at least it helps in the market movement price, but why in a country of China they banned all sources of cryptocurrency. From using Bitcoin, miners and now even a small thing airdrop was also banned. The government of Country in China they are very sensitive when it comes cryptocurrencies, hopefully, they were enlightened soon and adopt this digital currency.

China had been a bit conservative in that sense and this is the reason to protect their domestic economy as a result of which they banned some of the exchanges that had been operating in the country.

It is a step in the right direction from the government of China if  the news is real,Airdrop give away has been abuse in the cryptocurrency community, Several Airdrop from ICO since the year began are mostly out to collate data from bounty hunter, Airdrop is now going into extinction,

Well till today, I have always been reading that governments are striving to invest in bitcoin now because they know the future is all about bitcoin. Then how country like China is doing all this?

There are always scammers everywhere. I think the best thing in this situation is to find a way to deal with the scammers in our midst instead of declaring airdrops as illegal. What about the companies that are legit and gives out free coins (money) as a way to attract people and also investors and grow their business? If they don’t do things like this they won’t be able to get the interest of people.

i think it's only a little airdrop that is valuable now, i think this is an effective step for China to maximize cryptocurrency, even though China has planned to make its own crypto from a long time

Actualy since from the start china become allergic about crypto,because they want to make there own crypto investement and they dont want a crypto foreign exchange  thats why they considered thats crypto airdrops is illegal,othwerwise  if we talking about airdrop its only a certain amount of crypto coins and several only would granted and benefited on this kind of campaign because mostly its only a promotion and low price value coins.

China must be very cautious in cryptos. We can say that there are so many ICO are faking it just to find investors and run away with your money. Indeed that airdrop attract people to have their tokens with some catchy features just to gain more value of their tokens. China is already have their own tokens and maybe this is also they way to eliminate competitions and their people just use thier own tokens. Its better to be more careful in choosing than in the end we all loss our money.

I think every country have a different rules and regulation. Airdrop should be good for ICOs, because people get attract to invest and getting more to know about the project.

Well it is now the time to have another country to take the lead when it comes to cryptocurrency in the east Asia or in the European Union as there are many countries like Japan who are pushing regulations in their country which I think is about time to have one and the next step and reason for the market to have a major movement and after that massive adaptation the crypto to every day use.

No they haven't and stop spreading non-sense.

But it puzzles me how many people are thinking airdrop are naturally tied to ICOs, seems like bounty hunting is really damaging long terms.

What China has banned are airdrops that are part of ICOs who are luring people to buy more after they receive a worthless pile of tokens. You can safely create you coin and do airdrops if you don't plan to run an ICO the same time.

But anyhow, it's China, and nobody cares anymore!

They already have declared crypto illegal. So, I fail to understand the impact of this additional ban.

There are ways to bypass these bans but I am not sure if that is happening there as the government there is very strict.

Investing? Airdrop is not a kind of investing but a way to earn free crypto currencies with out really doing nothing, well not really all of them since most of them need you to do something for them.

I don't know the reason of them banning the airdrop but I think with a lot of people in their country spamming the media or the internet with those sharing links to the projects is getting out of their control.

China should be commended for trying to protect its citizens from unregulated scams in form of icos and airdrop. On the other hand, there is another element to it. Control. Any thing decentralized is opposite of what the Chinese government stands for. Life in China is heavily controlled, and the government is at the forefront of controlling what its citizenry consumes from the outside world, and I suspect this could be their reason for illegalizing airdrops.

I don’t see anything bad about crypto airdrops. Their government is just being kind of stupid (forgive me for saying that though, but it kind of irritates me when I see government doing things that doesn’t make any sense) what exactly makes airdrops illegal? They are just free coins that are given to people to test out the new coin and also get their interest and attract investors. The company, in this case, are even the ones that are losing by giving out free money to people, so I see nothing bad in doing it.

It is mainly the fault of the bank, that chinese peoples bank or whatever is actually quite anti-crypto bank and somehow think crypto will make their business futile and destroy everyones lifes and make it impossible to have the financial system like we do right now. They might be right that crypto is aiming to change some stuff but as long as they could just follow the trends and react accordingly than they could adapt to the change but they are afraid of the change itself.

Hence the chinese government and politicians follow where the money currently is and do what the bank says. Do not worry tho when the crypto gets big enough the bank will be forgotten because money will be at the hands of the crypto holders who will pay politicians enough to stop listenning to the bank.

China has not speak on cryptocurrencies good lately and declare airdrop illegal will not affect cryptocurrencies market as most of the people that dumped it are airdrop hunters.  I think giveaway system has been there for long and it is a business strategy but if they decided to declare it illegal in cryptocurrencies then it means they are against cryptocurrencies.

That's right and definitely they see that they don't want other crypto to get in their country because they can create of their own. Chinese people are intelligent which they can really imitate things and probably also in digital aspect. About this airdrop, maybe they don't want it because it can probably only caused them burden due to the volume.

China is a creative country, although they cannot create it they can imitate it. as well as cryptocurrency, of course they have a big plan behind it all. because basically they want to dominate the world of the economy

This was an interesting reaction from China!
China is doing so well, but against cryptos makes me wonder...

If we take a creative position, this a nice opportunity to come out with a new way, new idea to distribute coins through the world!

I read the replues of others and I agree to their point that China does not want their people to earn more than the other because the China is a communist form of government. The China would like to keep it that way because they believe in equality to those people belong in the same level. Other than that, crypto will be a one way that will eleviate one on their status and that will ve seem questionable and unfairness to the other individual on their level of shares from the China government.

I think the obvious answer is that China claims ICO is illegal and airdrop is related to ICO because only ICO gives an airdrop to people to attract new investors so basically they encourage every People stay away from ICO rogue though it is just airdrop that will eventually endanger the participants

It's about ICO issue that China is trying to regulate cryptocurrency in their nation. They find it risky to let their people invest in it or do some airdroping because of some personal data breaches.

Airdrops are part of ICOs and I don't think China has exempted other aspects of ICOs in their country. Their statement is pretty reasonable and I couldn't deny that airdrops even though are free is still part of an ICO and the bigger picture here is they are giving away "assets" on the Chinese citizens which are not allowed to participate in ICOs in the first place. Their central bank also have a concern on how it can affect their economy as some ICOs are proven to be fraud, they are just as of the moment protecting their citizens in their own way.

True and I agreed, this is sometimes I've been thinking about several times that this might be their strategy, were they often said that crypto is ban but in reality they have a big average percentage in terms of bitcoin mining farm. and now China declared to ban airdrops on this matter I guess that's good in my opinion.

China's declaration to Airdrop is illegal is quite favorable to me since this is mostly abused, misused and business malpractice to crypto project that may result to bad image. Since Airdrop was applied to most ICOs as part of their advertisement and marketing strategy but many scam project had exploited this kind of activity and most of the airdrops did not succeed that's why China believe that it is an illegal and so i agree with that.

I don't think airdrops are good anyways. Not that bad news.

Your message may not be accurate. My Chinese friend told me that China is forbidden to ICO!
Airdrops on cryptocurrencies are hard to ban because they have the opportunity to contact cryptocurrencies as long as they have access to the Internet!
Unless the internet is banned!

airdrop is simply giving free money, but that free money taken up RMB value, which basically day light robbery.

I think the answers is clear that china was declare ICO's are illegal and airdrop related to ICO because only ICO give an airdrop for the people to attract new investors so basically they encourage people to stay away from scam ICO although it is only airdrop which eventually will have risk for the participants itself

This could have a negative effect on the bitcoin market and if people start discouraging such than market may also crash by some points which is not what bitcoin investors would want at this point of the time where it would be year ending and everyone would want some better returns and market bull run to begin.

it is some sort of illegal because the price will be affected because they are giving away a free coin in exchange of something specially of emails. For me it is illegal yes because the market will drop after that kind of act and they are protecting the true investors who put real money, it is just kind of security of the fund.

In my opinion, i think their government just controlling the investors not to invest too much on crypto. They were afraid for investors not to invest for the benefits of their government.

I am on the Chinese side, it is true at this time, that the marketing strategy of using AirDrop tokens greatly impacts the worsening condition of the cryptocurrency. Today many ICOs provide their tokens for free to subscribers, the effect is, investors are deceived by the large number of paid subscribers and related tokens being worthless, because there are already many people who have them, and of course it is difficult to develop

Alot of abuse going on in the crypcurrency space, The principle behind the airdrop give away has been abuse, Reason why china term airdrop as an Illegal platform, with regulations and policy formulation we can be sure of this been stopped. 

If ICO is illegal in China than same way airdrops are illegal
it is logic
Mostly all that airdrops are not worth even to give my eth adres
It is only playing role of advertising for some projects mostly scams
Last i have sign to Blockchain.info stellar giveaway
I have received stellar worth of 26$ but i have to give scans of my docks

That was my first impression upon reading this article, that it's yet another example of China imposing its political will on the citizenry.  But hey, the United States, land of the free and home of the brave, banned Americans from participating in ICOs as well if I'm not mistaken.  Not that I believe that the US government wants any less control over its population, but China is a communist country and that (IMO) is a much worse and far more repressive system.

That's an interesting point, one of whether the rules can actually be enforced.  But I'd also add that simply having a rule against something will prevent most people from doing that thing--whether the rule can actually be enforced or not. 

It'll be interesting to see what happens.  I know airdrops are popular, but even if they were eliminated worldwide, crypto would survive and thrive anyway.  Still, I don't like to see legislation like this happening.

It's a pointless move because they can't know who claims an airdrop. What about forks? Are they also going to be banned?
If you download a wallet and register for an airdrop the Chinese government will come knocking at your door? This is getting more and more ridiculous but what would you expect from a country that censors the Internet.

You are right that for a country that prohibits ICOs it's natural to prohibit airdrops as well, since they are mostly offered by ICO teams. Anyone can understand the reason and the aim of such a policy. China is trying to protect its citizens from scam. Yet I think that banning is not a nice solution. Some of the greatest cryptos were raising funds through ICOs. Even is a lot of them are scamming people, it's unfair not to give a chance to that small category of great projects that need money. I think the better way is to make regulations and make sure that CEOs of the projects that scammed people will be considered criminals.

I don't think this is right for the Chinese to do. I thought they have already given cryptocurrency operation green flag in the country? Why are they now restricting airdrops which are also an integral part of the cryptocurrency activities? I think they should reconsider such decision.

These and many more stories are not expected at this time of trials in the life of cryptocurrency. Ilegalizing cryptocurrency airdrop is not a welcome development coming in from China which i will also say that, other country should not emulate China in a negative way and bringing in bad news about the said cryptocurrency, more also, china should allow it legality.

Edited:

i believe the correct term that this website should have used is "ICO" not "Airdrop" because what Chine has banned is the Initial Coin Offering which is not really an airdrop! there is no reason to call them as airdrops.

this ban is not just about these ICOs being scams but it is mainly because there are no companies behind any of them and there is no reason for them to raise funds. so they are actually getting money for nothing and scamming people.

That's expected considering how China has acted towards ICO. Like you mentioned in OP, most ICO and airdrop are a scam anyway so I don't think this will give us any bad effect. Who's to blame? No one. I mean it's just how China like to handle things. As long as they don't ban crypto outright, we should be fine.

in my opinion, it is normal if China applies ICO like that. because it was seen from several instances that many projects deceived investors and if they were successful only as an exchange of tokens only and did not continue long-term.

That would be appropriate to avoid the risks of getting scammed and any other forms of fraud. It is good that China is aware to the increasing cases of money laundering to protect their people's wealth, unlike any other 3rd World Countries, they just really don't care and let their people be trapped in an endless waves of fake ICO's .

That is why, until now there is no significant changes in their economy.

This was true back then when airdrops where worth it and there were barely no Scam ICOs bt right now, the situation is so terrible.
If it's true, then China is right to ban airdrops. They are an indirect way of promotion scam shitcoins

if in my opinion China is illegitimate airdrop because now there are so many airdrop and ICO frauds, because there are already a lot of investors who have lost their fraud or the coins are in a scam

In a way, knowing that China is somewhat fickle-minded regarding their stance on cryptocurrencies, this is not really surprising anymore. IMO, crypto airdrops can be used as a form of enticement to the general public to participate in a later ICO,  and given that most ICOs end up being scams, it's yet another precautionary measure that China put in place in order to lessen the amount of scams plaguing their country. It still hasn't dawned to me how a country so dominant in minting cryptocurrencies end up not liking the idea of what they minted.

Seemingly, people and Governments in China doesn't want their people to have many money because they want their people to work hard for it and remain working for them for the rest of their life.

It is true that there are many ICOs that are scam, but the reason why china has banned cryptos and ICOs it's because they are afraid of their people being free. The Chinese government is a shade and communist government, they centralize everything, their people are extremely controlled and the Chinese government restricts its people to have contact with the outside. Now imagine a government that restricts its people to have contact with the outside accepting something decentralized and that was created by a foreigner and anonymous, cryptos are a big danger to the Chinese government. So you have to ask me why the Chinese government still accepts mining?

Mining is a physical structure that the Chinese government has its location and know that it has control.

It is possible to create laws that will guarantee that the number of Scam ICO cases will be reduced, they do not have to ban the ICOs. But in the case of the Chinese government, they are afraid their people will be free.

No. It only makes sense for them to declare anything related to ICO illegal because in the first, they have ban ICO already. So I'm not sure about this news coming from China though. There's a report even saying that bitcoin is not the future of crypto anymore. Lol. But on the contrary they still hosted a lot of mining farms and have the total monopoly. I guess we really need to forget them and let Japan and South Korea lead the pack into the future of crypto.

So many fancy scams going on and many airdrops are just a way to advertise there scam. you pay people in your worthless token to help promote it there incentivized to help lure people in because you will make a profit if they buy in the "devs" make the real money people who get the airdrop make a little bit of money and investor lose all there money then coin is abandoned.

Why is it responsible? I think this is correct. It is important to know that many scammers use the airdrop mission to defraud a lot of wealth. Airdrop behavior is essentially an advertisement for coins. Such a populous country should ban airdrops, as does India. The biggest drawback of cryptocurrencies is that they are too easy to be exploited by scammers. Otherwise, the price of Bitcoin has already exceeded $100,000.

I came across to an article that China has declared crypto airdrop illegal. I just wonder why is that crypto airdrop was declared as an illegal where in fact we know that crypto airdrop were just like a giveaways to the team who promote the ICO projects. This is one way to attract a private investors and will certain a way also to gain more possibilities of success in promoting the project. So, how could a crypto airdrop be banned? What could be the reason behind the banning of crypto airdrop?

So, i read further about the article and found out that China has repeatedly imposed strict sanctions against cryptocurrency. The main reason for it is stated in https://cryptocurrencynews.com/china-bans-crypto-airdrops/ that It just make sense how China reacted to crypto airdrops. The country doesn't have the likes on the ICO (Initial Coin Offerings) for some obvious reasons. And we know it already because there are plenty of ICO nowadays scamming investors or if not done scamming the project that will be implemented will not gone good and will just dump the project. Most of the project that was being brought up in the ICO were not really functioning and this will lead to undervalue the tokens/coins after the exchange listing of the tokens/coins. This is the problem with ICO's the team that manages the project will then just list their tokens and will not work on to improve more on the project. Though not all of the ICO were being dumped but basing on the number of ICO nowadays a huge percentage of it has come to the point that the tokens/coins were being undervalue and being dump. Project were dead.

Whom will going to blame for this after China declaring the crypto airdrop illegal?