Similar regulation may soon be coming to USA, too. This July, SEC warned that ICOs were being used to sidestep the law, and last week the agency issued another statement describing coin offerings as potential scams.
Topic: Will other countries too ban ICO soon? - page 2. (Read 1928 times)
ico certainly need regulation and it will be, but a complete ban and with such conditions - nonsense. China again affects the price. Do not panic.
More and more will surely follow anytime.
But tbh you cannot say nobody hasn't foreseen that.
It's just another dipping day between all the bullish ones this year.
But tbh you cannot say nobody hasn't foreseen that.
It's just another dipping day between all the bullish ones this year.
It doesn't really matter because none of other countries as big as China and USA. Even if they ban ICO's it won't affect market as hard as this news. I think China will lift this ban soon too, they can't ban, they want to regulate. USA banned ICO's and everybody saw the consequences. It's their loss, not ours. Wait patiently and you won't lose your money. Don't sell any coin at loss.
You forgot about Korea.
I think all countries will regulate ICO's, so the party is over. Especially will be important the case of Korea and Japan.
Banning ICO completely isn't actually a good solution to avoid scams. Scammers will find other ways to take fool people's money. I think ICO won't be banned but regulated by other countries.
I dont think that other countries will ban ICOs soon. China is just freaking out at the moment. I mean why should they follow them? The people just need to do a better research, before they invest their money in crap!
The press is having a field day with this...
The government move should “help cool down the market and sweep away bad actors,” said Jehan Chu, whose crytocurrency hedge fund Kenetic Capital has invested in Chinese ICOs. He said he hoped regulators would allow some forms of digital currency financing later. “I don’t think they’re trying to kill it.”
WSJ story: articles/chinas-ico-ban-brings-bitcoin-back-to-earth-1504526144?mod=e2tw
http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9?r=UK&IR=T
The government move should “help cool down the market and sweep away bad actors,” said Jehan Chu, whose crytocurrency hedge fund Kenetic Capital has invested in Chinese ICOs. He said he hoped regulators would allow some forms of digital currency financing later. “I don’t think they’re trying to kill it.”
WSJ story: articles/chinas-ico-ban-brings-bitcoin-back-to-earth-1504526144?mod=e2tw
http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9?r=UK&IR=T
I'd say that Russia might be another candidate since they've also shown active interest in cryptocurrencies and even legalized them recently. However I wouldn't say that ICO's are going to be banned, instead they will be subject to more regulation (which is fine)
You shouldn't forget what kind of government china has and how many restrictions and ethnic differences there are overall - not only in cryptocurrency market.
I don't expect other countries to follow.
I don't expect other countries to follow.
After china will other countries also take similar decisions, its temporary or permanent ban in china?
Nobody knows exactly for sure what may happen in the future. But we don't want to see more countries banning ICOs in the future because that is bad for business.
ICOs are overwhelmingly a way for scammers to steal money from gullible people. I really hope they're banned everywhere.
Probably this is just the beginning, too many scams going around and they are damaging legit projects.
BTW, people can still make ICOs without even calling them that, a premine is an ICO, developers dump when they need the money...
BTW, people can still make ICOs without even calling them that, a premine is an ICO, developers dump when they need the money...
I believe the Non ICO coins will start to benefit when the dust settles. People have to put their money somewhere and the ICO market is too dangerous right now.
The reason of china ban is too many people using the technology of "Blockchain" and the terms "Cryptocurrency" to play with money game.
Those project are just HYIP and sort, we don't see it in BTCtalk because it is very simple.
Their operation will be, someone found the site, someone promoted and people join.
They just use the terms "ICO" as a camouflage and this, destroys the "ICO, Cryptocurrency" Terms in the eye of people who don't have idea about the industry.
Why do i know? I am a chinese, i know how chinese works and the ecosystem of the ethnic of chinese;D
Those project are just HYIP and sort, we don't see it in BTCtalk because it is very simple.
Their operation will be, someone found the site, someone promoted and people join.
They just use the terms "ICO" as a camouflage and this, destroys the "ICO, Cryptocurrency" Terms in the eye of people who don't have idea about the industry.
Why do i know? I am a chinese, i know how chinese works and the ecosystem of the ethnic of chinese;D
Probably this is just the beginning, too many scams going around and they are damaging legit projects.
BTW, people can still make ICOs without even calling them that, a premine is an ICO, developers dump when they need the money...
BTW, people can still make ICOs without even calling them that, a premine is an ICO, developers dump when they need the money...
They will not. China banning ICO because there's reason behind it I thnk that the overwhelming ICO that misused by many people to gather funds without resulting good outcome is the reason that trigger this banning against many ICO. but, it won't affect that much, relax.
I agree with Van.
The reason behind all of this we can see here in the forum. Good thing we have some people here that are targeting those scam ICO's which makes it cleaner. In other forums it cannot be stopped. Social medias and other advertising do not have the time also to detect those who are fakes and are just trying to make money.
If it is banned to those countries it wont affect much. They just need the investors and they could use someone to create the thread for the ICO.
After china will other countries also take similar decisions, its temporary or permanent ban in china?
I can't see any major countries ever 'banning' ICOs, however they make take similar steps so as to be able to introduce better regulation. As far as I understood it the ban in China will be temporary until regulation can be improved to protect against the many scam ICOs.
I don't know which country will be the next one to ban ICO. But i think it will give some ideas to some countries. I don't think governments like to see ICO and funds that they can't control.
But maybe some will still accept it. But companies creating ICO will be lesser as there will be fewer participants in ICO.
But maybe some will still accept it. But companies creating ICO will be lesser as there will be fewer participants in ICO.
It doesn't really matter because none of other countries as big as China and USA. Even if they ban ICO's it won't affect market as hard as this news. I think China will lift this ban soon too, they can't ban, they want to regulate. USA banned ICO's and everybody saw the consequences. It's their loss, not ours. Wait patiently and you won't lose your money. Don't sell any coin at loss.
You forgot about Korea.
I think all countries will regulate ICO's, so the party is over. Especially will be important the case of Korea and Japan.
They will not. China banning ICO because there's reason behind it I thnk that the overwhelming ICO that misused by many people to gather funds without resulting good outcome is the reason that trigger this banning against many ICO. but, it won't affect that much, relax.
It doesn't really matter because none of other countries as big as China and USA. Even if they ban ICO's it won't affect market as hard as this news. I think China will lift this ban soon too, they can't ban, they want to regulate. USA banned ICO's and everybody saw the consequences. It's their loss, not ours. Wait patiently and you won't lose your money. Don't sell any coin at loss.
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