Nowadays, there are many Chinese ICO projects and scam rates are very high. I think China has done the right thing. If the ICO of China continues to grow, so many people will have to lose money for ICO scam
Yes their government has done the right thing to protect their people however totally banning ICO is not a good thing to do. Not all the ICO are scam there are so many projects that can bring a lot of advantages to the community. The alternative way is to make a strict regulation about that and maybe create a department to keep an eye on those investments.
Yeah, i searched some news on the weibo , they are drastically against Bitcoin , they don't accept Bitcoin in their method payment, investment market or even holding , storing , mining purpose also. This is really a disaster move of China in their crypto market industry.
This is really bad, i couldn't believe that China finally did this you know what majority of miners come from that country so whatever happens out there it will affect the industry.