Topic: ICO is officially banned in China !!! - page 18. (Read 11280 times)

As I already wrote in another topic, I believe that this ban is just a temporary decision. Here's why:
1) There are lots of fraud activities in cryptocurrency at this moment and to be able to protect people from this fraud government should decide how to regulate this new industry.
Cryptocurrency industry scaling speed is way too fast at the moment and demands fast decisions.
On the other hand, China doesn't want to make fast decisions concerning market on which they really want to be a leader.
So this is just a "STOP, THINK, DECIDE" measure being implemented;
2) I think China also understands, that there is no way to be a leader on such digitalized and decentralized market with forbidding everything strategy.
On the contrary, as a government you have to make comfortable conditions including smart regulation measures for your industry leaders to be able to drive this market on local level, especially when your country is a huge part of it.

From my point of view these 2 reasons are enough to make a conclusion that this is a preventive measure and after China will decide what to do they will reform this ban into something much more flexible.
The problem is that by that time this measure will cause some damage and I'm hoping for some official statements in order to stabilize situation, at least I hope there are some industry lobbies in China.

Yeah I'm not clicking on that link, but I believe the story since there
are multiple threads on this.  Didn't care when the US ctacked down and I
sure as hell don't care about China doing it.  It's worse for them, as they're
heavily involved in crypto and likely ICOs as well.  Interesting.

What kind of participation/impact does China have on ICOs right now? Not sure if that's a fair question, but on average, what % of investors of an ICO are coming from China?

Thanks for notify, current situation of the market is in shock after PBOC announced ban ICO.
I agree not only altcoins but this also affect bitcoin price, maybe bitcoin could persist at $4000 levels.
The good news is; most coins in the market on bloodbath, red everywhere which mean it's discount time.
Don't worry about it, just buy more cheaper coins and prepare for the upcoming profits when the prices recover and rise again.

I think as well that China is only the first country that bans ICO. Other will follow.
The problem is that those coins brought a lot of money into crypto.
They will not do that anymore in the near future.
But I have heared as well that this ban will not take for ever.
China wants to have some basic rules the ICOs must apply to. Once those rules are set up ICOs will be reopened.

I strongly agree with you saying, this is the policy of a country. I think this has an impact for btc decline.

Most impacted were the largest ICO tokens, Qtum and OmiseGo

Don't have any problem with the Chinese banning the IPOs. From what I can see, 90% of the recent ICOs are either overpriced, or outright ponzis and scams. As long as the Chinese are not banning Bitcoin or the established altcoins such as Ethereum, Bitcoin Cash, and Litecoin, I am not complaining. And I heard that the American authorities are also about to ban the ICOs there.

Interesting to watch!

​ICOs will be the first test if China is capable of banning anything crypto, they are mostly not decentralized

Very bad politics, this is very detrimental to China. ICO is a legitimate transaction if the case continues, I am afraid Bitcoin will continue to fall.
Hopefully this week will be finished soon.

this shouldn't be a big problem with bitcoin et al. ICOs will be regulated in the end in every country.

I don't understand anything except the fact that ICO is bamned in China.
But... Why? I think ICO is promising, a good place to invest and also something that give us opportunity to earn eth.
Do China goverment think ico is a threat?
And do they banned bitcoin as well? Or just ico?
However i feel sad to the bitcoin lovers in China. It must be hard for them, also the developers there.

Well, I'm afraid for the bitcoin future and other crytocurrencies as well.
China is the second latest country in the world with the highest number of investors in cryptocurrency.
If china bans ICOs, bitcoin to CNY and CNY to bitcoin exchange, it is like China is in war with cryptocurrency.
And if china is in war with cryptocurrency then we gonna have serious problem.

Yes, PBOC already banned ICOs project and all funds should be returned to investors, it is a doom for many project in China obviously.
But, I think people in China should be able to invest on some ICO projects as long as its operated outside the country which many companies have done it. PBOC will not know about ethereum or bitcoin being transferred to buy some tokens from several ICOs.
The People’s Bank of China (PBOC) has ordered the cessation of all initial coin offerings (ICOs) in China, mandating that active ICOs must return funds to investors. The announcements confirm rumors originating from Chinese media outlet Caixin that the PBOC had decided to initiate a crackdown on initial coin offerings operating in China.
https://news.bitcoin.com/chinas-central-bank-deems-icos-illegal-refunds-mandated/

The Chinese banned most access to the internet to via their firewalls and the people still access these sites. Agreed, the ICO's

is becoming a problem and proper regulation would have been the best solution, but as usual the Chinese government over

reacted and they ban something before they did their homework. Prepare for a much cheaper Bitcoin now, the market will

also over react now.  

The problem with ICOs is the lack of transparency. You never know if the developers are buying coins from themselves, to inflate the crowdfunding numbers and create a false sense of interest.

I think Chinese governament is taking this very seriously. May be they received many complaints against the fraud ICO scam, so they are coming with this strong decision. According to me, this will effect on all altcoins price you just look the all altcoins price list it keeps on falling.

I heard about this news and I guess this is the reason why there are dumping that is happening right now people are on panic specially the newbies this news has a big effect into crypto since China one of the biggest investors of bitcoin.

Why do you think so?
ICO is likea gambling. Gambling actually is not so good, but someone whants to play this game. And i'm a bit.. but agree with you.

In some way I'm kind of glad this is happening due to all the scams out there, but I'm not into more regulation though.