NEO is an international platform with Chinese developers. NEO doesn't need to China's name to be successful. NEO is more powerful and useful than ethereum. for e.g NEO is decentralized but Ethereum isn't and dozens more...
No, but the Chinese developers need to get paid and if they can't then work on the project stops.
As I pointed out more than a week ago, the biggest risk to NEO is being delisted in China.
They also raised money back in 2014 using clearly ICO for Antshare. I don't know how they will not have any impact of People's bank of China. I am also double minded now and have sold out large portion of my NEO tokens already. I have kept some portion in case things looks good and can be fixed somehow to not regret later. I have secured my investment to be honest.
The most immediate threat to NEO and other ICO tokens is delisting from Chinese exchanges, if this happens then it will significantly reduce the trade volume.
Now 3 Chinese exchanges have halted NEO trading so there is a very real chance that they all might delist NEO because it is an ICO token.
This is on top of the news reports that ALL exchanges in China may also shut down.
If the developers cannot access their funds then it will make it
much much harder for them to push the project forward.
https://coinmarketcap.com/currencies/neo/#BTCI suspect it will be a long time before NEO is able to get back on track and the token is likely to slowly bleed out until that happens because a huge amount of people bought this token expecting it to be big in China.
The bans may only be "temporary" but we really don't know how long "temporary" actually is. It could be a few months or it could be a few years.
Such is the nature of speculative investments.
