Topic: It looks like token/coin sale is still okay in China...just not an "ICO" :P (Read 313 times)

Expect to see a lot of people joining via proxy. It is dangerous though, I can imagine services offering to help Chinese citizens buy/hold and trade. and many of them will be scams and run away with investors money. The Government should regulate the sector but allow their citizens to participate.

vpns in china are going to be dead meat soon.

https://www.theguardian.com/world/2017/jul/11/china-moves-to-block-internet-vpns-from-2018

the biggest have already agreed to voluntarily shut down. the stragglers will be playing a game of cat and mouse, that's if there ain't some technical measures put in place by the government. they know their stuff.

Heard of VPN?

guess so. there's nowhere else in the world with a direct ico ban for now.

even if i was foreign in china i wouldn't bother. accessing any type of market is about to get a whole lot harder.

I agree. They have a separate jurisdiction although they are still under Mainland's control. I speculate that its just a matter of time before Chinese government will put pressure on Hongkong as well.


So its possible that non-Chinese can be used as front by the Mainlanders to be able to get away from the ICO ban? Do you think most of whalers will do this to get around with the regulations?

Chinese citizens are not legally allowed to join the "sale".  I guess a British (or anyone not Chinese, American, or Singaporean) in China (or anywhere) can legally join.

I am looking forward to buy some R-Chain myself. The thing that China did was by banning the ICO is that now the chinese will not be able to buy cheap coins during ICO but will have to buy later from exchanges. SUcks to be chinese!

so it's not ok in china then.

hong kong is a completely separate jurisdiction but how long that lasts is anyone's guess.

So RPX token sale is on and what struck me about the email is that the word "ICO" is no longer there.  Below is a copy of the email.

===================================================

RPX Sale Date:
Sunday, October 8

Hello,

Red Pulse will be launching the RPX sale on Sunday, October 8 at 0900 EDT / 1300 GMT / 2100 HKT. The sale will be conducted in Hong Kong SAR and by RP Technologies (Hong Kong) Limited (#2255299). The sale is not open to citizens of the United States, Mainland China, or Singapore. Our KYC whitelist form is already closed, and we are not accepting any new submissions at this time.

As announced previously, we have added to our RPX sale smart contract a one hour window at the beginning of the sale that limits each contributor to a cap of USD 1,000, with only one transfer allowed per person. Multiple transfers, and transfers greater than USD 1,000 worth of NEO tokens will be refunded.

Following this one hour window, the RPX sale will continue with a higher USD 50,000 cap, as planned previously. In this period, participants will also be limited to one transfer. Note that a contributor may thus contribute once during the one hour window, and subsequently contribute a second time after this one hour period. The total max contribution for a single person is thus USD 51,000 worth of NEO tokens. Contributions received during the RPX sale will not be accepted if any information is missing, or if the NEO wallet address does not match what you submitted. Individuals that need to update their NEO wallet address can email [email protected] with their old NEO wallet address, new NEO wallet address, first name, last name, email address, country of citizenship, and passport scan.

Only KYC whitelist validated people may participate in the RPX sale. The KYC whitelist form is already closed. We are in the process of conducting KYC validation on the submitted forms, and will notify individuals within the next 2 weeks on whether their submission was accepted or rejected. We have hired a team of Hong Kong advisors from a "Big Four" accounting and advisory firm, as well as outside legal counsel, to advise us on our entire RPX sale process, and to ensure we are fully compliant with laws in Hong Kong SAR.

To participate in the RPX sale, individuals must use a new version of the NEO - GUI wallet developed by the official NEO Project team. The wallet will be released soon, and we will make another announcement when it is ready for download. Until then, you may keep your NEO tokens in any of the wallets listed at the neo.org/download website. However, to participate in the RPX sale, you must use the forthcoming new version of the NEO - GUI wallet. We will create a how-to video on how to transfer from your wallet to new NEO - GUI wallet and the RPX sale participation process in the coming weeks.

Thank you for your continued interest and support of Red Pulse and our RPX sale.

 

Best regards,
Jonathan Ha
Founder & CEO, Red Pulse