I would say that the effect of the ban will not too much, except for the orient ETH {NEO} and QTUM.
Many ICOs were not allow U.S. citizens to participate, and no one bats an eye.
Many ICOs were not allow U.S. citizens to participate, and no one bats an eye.
I think banning of ICO means ban to start an ICO, not ban to invest in ICO. So, basically, Chinese still can invest to ICO, be remember that the main feature of cryptocurrency is anonymity. How do we know the investor who pay in Ethereum is U.S citizen?
This rules makes hard for chinese to buy any coin with fiat.
I think the governments want to control money market, and they have fear loosing it by the way coins spread.
I watched box mining's video today on youtube and he said this was already law in China. Tokens cannot be used as currency. Meaning you cannot purchase goods with them. Doesn't mean you can't buy them.