It is in my opinion that China is very short sighted in their ban on ICOs. I am only an observer of the whole ICO market as I hold Bitcoin only. But I do believe in ICOs as the future of a democratized way of getting financial support for the unbanked.
Who said that entrepreneurs with good ideas should not be given every opportunity by the community themselves? But of course we should still be careful and be responsible with our own actions. People will lose money from scams.
Do you think a country like Switzerland or Singapore welcome ICOs and become new havens for them?
China is one of the biggest economies in the world so there are many Bitcoin investors here. Therefore, China's banning of ICO will cause other countries to have a lot of influence, many transactions will be canceled, financial resources will be reduced, and BTC will be reduced. Other countries surpass China in terms of virtual currency