Post
Topic
Board Announcements (Altcoins)
Re: | NEO Smart Economy⚡Now a Top 10 Cryptocurrency⚡| Official Thread |Updated Aug10
by
Alphi
on 04/09/2017, 13:00:29 UTC
https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

The most important sentence in that article: "The statement added that enhanced management is needed on digital coin fundraising platforms."

ICOs will be accepted again in China once regulation is in place. I do not mind as this time is perfect to add to my position.

http://bitcoinwiki.co/antshares-blockchain-completes-ico-securing-4-5m-and-microsoft-partnership/

The problem that we have is that ANT Shares AKA NEO was itself launched from an ICO.
The Chinese government has now issued a statement that all ICOs are to be refunded so if they enforce this then it could mean that the NEO developers will have to return all their funds to the original investors.

"Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China, the securities and banking regulators and other government departments, that was posted on the central bank’s website."

https://www.reuters.com/article/us-china-finance-digital/china-bans-initial-coin-offerings-as-illegal-fundraising-idUSKCN1BF0R7

It's too early to say whether the Chinese government will enforce this but interesting times indeed.

The bigger risk IMO is if NEO gets suspended from trading on Chinese exchanges because was an ICO.