Post
Topic
Board Announcements (Altcoins)
Re: | NEO Smart Economy⚡Now a Top 10 Cryptocurrency⚡| Official Thread |Updated Aug10
by
CryptoGreenT
on 04/09/2017, 14:31:52 UTC
Here is the full statement:

http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

Any Chinese people here who can translate or explain it? The article on Coindesk https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/ says:

Quote
The third article states that the regulation on trading platforms shall be tightened, "as of the date of this announcement, trading platforms shall not conduct any exchange business between fiat money and virtual currencies, shall not provide information and price for virtual currency trading."

They request to stop trading ICO tokens (as far as I understand, including previous solid ICOs like VEN, OMG, EOS and others) on Chinese exchanges, which is very serious.

Chinese exchanges are not the only player in the game. Bittrex and Polo can't be touched by chinese regulators.

Without Chinese exchanges, most of ICOs wouldn't cost that much. How far will Red Pulse token go if it doesn't get to any Chinese exchange (which is quite likely)?

I absolutely agree with this statement and I don't believe that icos will be banned definitely but they will be regulated since new icos are coming out like mushrooms and most of them are scams or at least projects without sense to exist.