Topic: How does this announcement affect Altcoins (Read 183 times)
Similarly in my country, A Government Official is warning us on investing in Cryptocurrencies since it is not Secured and unregulated. I'm doing my research on this since I'm new. Unless there will be huge fines imposed by local governments, I do believe that cryptocurrencies will continue to prosper. I watched BTC rise up in value, Well I did invest in the early days but was scammed so I really did get frustrated and refused anything related to cryptocurrencies. Looking at its value now, its really regretful that I closed my mind on this. Still, need to watch out for Ponzi schemes that is riding on BTC. I'm rooting for Ethereum. Good luck to us.
That was very old new, not sure why you are asking now
Below is the news
Nine months after issuing warnings to bitcoin exchanges, China's central bank again sent the cryptocurrency markets tumbling last week.
This time, its focus was on initial coin offerings (ICOs). On September 4, the People's Bank of China (PBoC) issued a sharp statement labelling token sales "illegal and disruptive to economic and financial stability."
News reference: coindesk.com
chinas-ico-ban-understandable-reasonable-probably-temporary
Below is the news
Nine months after issuing warnings to bitcoin exchanges, China's central bank again sent the cryptocurrency markets tumbling last week.
This time, its focus was on initial coin offerings (ICOs). On September 4, the People's Bank of China (PBoC) issued a sharp statement labelling token sales "illegal and disruptive to economic and financial stability."
News reference: coindesk.com
chinas-ico-ban-understandable-reasonable-probably-temporary
Is this the news about Initial Coin Offerings(ICOs) whereas China banned them and asked the creators of the ICOs to refund the offerings? If so, this is old news. And it affected certain altcoin's prices negatively, but only temporarily. Prices rebounded after a few days.
According to the website of the People's Bank of China, any future offerings will be "strictly" punished and offerings that have raised money to date must refund those who bought tokens.
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