Virtual currency in China was banned.

reflector

sr. member

Activity: 826

Merit: 263

Quote from: nhieutam2008 on February 04, 2018, 11:06:54 AM

Initially, the ban on use of virtual currency was considered by the authorities as a deterrent to using technology to launder money.
At this time, all ICO-funded projects in China are required to repay to investors, but details of how the repayments will be made are yet to be announced.

Since the crypto currency is anonymous way to invest the fund, how the government can track who are all the investors and who is the ICO owner. We cannot believe the all the owner's information shared in the ICO white paper.
Hope some legit project owner may return the fund but will not work for all the project owner. Initially here in forum no one supports the ERC20 tokens but as time goes some legit project comes to the market at the same time. Some are faking here.

lucifer2

newbie

Activity: 51

Merit: 0

as far as I know is not banned by china. but its regularity about Cryptocurrency especially ico in perketal. because Cryptocurrency is very vulnerable to malicious actions such as money laundering, buying drugs.

I hope Cryptocurrency can be accepted by the people of china and in the future there is no news hacks about Cryptocurrency in china.

shi07

member

Activity: 122

Merit: 15

Long Live BTC

Its because they scared of unpredictable value of bitcoin if you monitored the value in the past few months we saw that its quite falling.And because of that they conclude that unregulated markets could pose major financial risks that why they ban bitcoin and according to the news the government said that china was looking into issuing its own sovereign digital currency.

TennisQ8

newbie

Activity: 12

Merit: 0

One of the reasons the Chinese regulators controlled ICO are stricter because the ICO has spread and out of the traditional crypto community.
China recognizes the real needs of its people with the ICO, but the government should prevent speculative ICOs to protect real investors.

Abete

member

Activity: 252

Merit: 17

Quote from: nhieutam2008 on February 04, 2018, 11:06:54 AM

Initially, the ban on use of virtual currency was considered by the authorities as a deterrent to using technology to launder money.
At this time, all ICO-funded projects in China are required to repay to investors, but details of how the repayments will be made are yet to be announced.

Because they rate bitcoin too fast. but once understood and learned I'm sure bitcoin has a lot of positive value. Especially economic progress for the community. Because bitcoin does not provide distance, bitcoin can unite all circles.

vintamodern444

newbie

Activity: 13

Merit: 0

The Chinese government has decided not to go through the ICO to prevent corrupts the economy and disrupts the financial order.
With this decision, the Chinese government has asked all ICOs to return the money to investors, it made investors not predict what will happen next with big virtual currencies such as Bitcoin. or Ethereum. After this incident, NEO - a virtual currency from China - has fallen to over 50% in just a few days.

nhieutam2008

newbie

Activity: 13

Merit: 0

Initially, the ban on use of virtual currency was considered by the authorities as a deterrent to using technology to launder money.
At this time, all ICO-funded projects in China are required to repay to investors, but details of how the repayments will be made are yet to be announced.

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