China "may" legalize ICO so it is not a definite news. There is a possibility then that it will be implemented or not for that matter. China has been in and out of crypto and any news from them before has a major impact to the price of bitcoin before but now, the world is moving on without them holding the majority of transactions as we know it is illegal for them to be involved with cryptocurrencies so whether they would legalize ICO or not, it wouldn't matter that much.

If this would be true then it would be good because they are back in the crypto scene and it would be an advantage to the investors too. Scammers would be track and be lessen. We know that many are taking advantage of the anonymity of crypto and make millions of dollars in just a span of months by conducting ICO that are just eventually a scam so legalizing it would make the people behind accountable.