Why ICO being ban in many Countries? - page 2.

pigheadbig

hero member

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Quote from: khufuking on January 05, 2018, 11:12:22 AM

A simple explain to this will be . They want to protect investors from getting scammed . ICO gained a very bad name to it , How many millions lost to a fake ico !! . This money lost is money going out from a country , Which they will never see again . This might be the simplest dumbest way to explain this Cheesy

Yes, ICO is a very high risk investment and many greedy dev teams are trying to raise a lot of money, I think the government should regulate this market, but they should not ban them.

khufuking

sr. member

Activity: 840

Merit: 266

A simple explain to this will be . They want to protect investors from getting scammed . ICO gained a very bad name to it , How many millions lost to a fake ico !! . This money lost is money going out from a country , Which they will never see again . This might be the simplest dumbest way to explain this Cheesy

redwhite037

full member

Activity: 560

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I think because your state does not have accurate circulating ICO. They can not manage it. easily lead to inflation and money laundering. But I think the sting is that the state can not charge the ICO to contribute to the state treasury

karasuri

full member

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these are attempts to protect their own economy and business. perhaps it's even good for small countries. In addition, it often deceives its investors.

grchina

sr. member

Activity: 476

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Because there are just to many option for ico founders to scam their investors and run away with the money without any risk for them.There just arent any legal boundaries for ico founders to follow as in most cases ico goes international and the laws aint the same in all of the countries

armakarisma

full member

Activity: 462

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Germany’s First STO

I think this is not only happening in my country (Indonesia) but also in many countries. in my opinion, this is more the way the government protects investors and money laundering practices. but with the KYC is a little help. hopefully there is a breakthrough for ICO legalized

rain3798

member

Activity: 157

Merit: 10

I don't know also, it made me curious if this ICO was a legit one or not. My friends tell me that this is not illegal but not also legal and then I found a site that lead me to the conclusion why they ban ICO which is maybe because It can cause bunkruptcy I think.

cL0uD

newbie

Activity: 56

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To my mind this is due to number of scams based on ICOs.
People are now using ifos to scam tho, so not sure if it's worth banning.

cryptopan

member

Activity: 196

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Because it is being mistakenly used to scam a lot of newbie investors,thats why countries are being protective to their assets which is the people.

ycoin123

newbie

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Merit: 0

Quote from: AshikurRahmanKhan16 on November 02, 2017, 09:54:21 PM

I don't know why ICO system ban in
Our country (Bangladesh) And I know
there are a few countries doing ban ICO.
But why? is ICO illegal someway?
Please kindly answer me.
Thanks

There is no one giving answer or taking stand for Us. Angry

juicejoyce

legendary

Activity: 882

Merit: 1001

Quote from: RNGfight on January 05, 2018, 09:22:25 AM

It is normal that the current ICO market does not have a very good regulation to regulate, so it looks more like a bubble and does need regulation.

You are right, ICO seems to be too easy to raise a lot of money and it is a high risk investment, if the project failed, it may cause some panic investors that is not good for government regulation.

yrsat

full member

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Why are countries so afraid of bitcoin? In my opinion, the leaders of the country do not know how to control this process to take taxes from it. That's why they are banned.

RNGfight

member

Activity: 196

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Open and Transparent Science Powered By Blockchain

It is normal that the current ICO market does not have a very good regulation to regulate, so it looks more like a bubble and does need regulation.

3months18w

sr. member

Activity: 308

Merit: 250

Quote from: AshikurRahmanKhan16 on November 02, 2017, 09:54:21 PM

I don't know why ICO system ban in
Our country (Bangladesh) And I know
there are a few countries doing ban ICO.
But why? is ICO illegal someway?
Please kindly answer me.
Thanks

Some scammers make use of ICO to cheat people for money , and run away . Maybe the government want to protect people from scam , so they ban icos.

cryptospear

member

Activity: 210

Merit: 10

Quote from: AshikurRahmanKhan16 on November 02, 2017, 09:54:21 PM

I don't know why ICO system ban in
Our country (Bangladesh) And I know
there are a few countries doing ban ICO.
But why? is ICO illegal someway?
Please kindly answer me.
Thanks

Because ICOs are being misused by some greedy people to collect and scam new investors,thats why some government are protecting their people.

sinduarianto

full member

Activity: 350

Merit: 100

perhaps many countries are banning as in my country the government does not let Bitcoin trade but they still allow investment, maybe in your country the economy is influencing politics so the government puts the law to ban ICO because it might be considered to be affecting the economy.

max6575

full member

Activity: 1176

Merit: 100

Vave.com

as domestic regulation leads to the building of arrange with the customs of work with the ico schemes,
the systematical gives of reference as the use to helps of beginner start up company to raise funds as entering field of business.

sehoon

full member

Activity: 840

Merit: 101

One of the reasons why they want a regulation with cryptocurrencies is because people earn money here without any tax. So sometimes they think it is illegal.

anzach87

member

Activity: 98

Merit: 10

because many countries wants profits from them and for the moment cant have:)

Anita1873

full member

Activity: 406

Merit: 100

Nowadays a flood of ICOs in crypto market and many new ICOs not do as per their commitment and many investors get loss lot of money because of no regulation about it. Many countries don't want their people to loss their hard earned money in shady ICOs and for safeguarding their peoples interests they are banning ICOs.

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