Post
Topic
Board Altcoin Discussion
Re: ICO is officially banned in China !!!
by
MAbtc
on 04/09/2017, 10:06:36 UTC
Just as an additional highlight, from 3:
任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务
法定货币 means literally "Legal currencies", 代币 means Tokens and “虚拟货币” means cryptocurrencies
So... exchange between fiat and tokens OR cryptocurrencies are officially banned. Even if the cryptocurrencies themselves are not banned, such action serves a great blow nevertheless.

No possibility that this means "no token/crypto or token/fiat trading?"

Did someone forget to tell the Chinese exchanges? Because their BTCCNY tickers are all chugging away normally right now. If cnLedger says that this doesn't affect cryptocurrencies, then I'm not jumping to the opposite conclusion yet.

In the FT's coverage of the story, they also seem to refer only to ICOs (the "cyber currency fundraising mechanism"), not assets like BTC:

Quote
Bitcoin eases after China blocks key cyber currency fundraising mechanism
https://www.ft.com/content/56035558-2fc8-3662-b649-01066f69e26d