China Shocks Cryptocurrency Market By Banning ICOs

[btc_manager]

On the morning of September 4, cryptocurrency markets were rattled by news coming out of China that regulators have announced a ban of future initial coin offerings (ICOs) in the People’s Republic...

Read more Here:

https://btcmanager.com/china-shocks-cry ... bans-icos/

Follow BTCManager for the Latest on FinTech, Blockchain, Ethereum, and Bitcoin!

[marcelchuo]

Yes but aren't ICO's illegal in USA as well. Ethereum is still doing well there. I think this will be similar to when China banned btc in 2013. They will ban it for a while until they can regulate the industry.

[estatex]

Yeah I feel that this is just normal FUD myself. China will not want to miss out on the ICO train when the rest of the world is on it. The optimistic part of me thinks that they are just trying to protect their citizens from scams. The pessimistic part of me thinks that they are trying to stop money leaving the country.

[marcelchuo]

I was pretty pissed cuz they got rid of the shape the future blockchain event in beijing also. I was really looking forward to seeing Roger Ver speak in person.

And what the heck, we booked flights, accomodation, did visa's and everything already and they just cancelled the event last minute.