Hello everybody!
Even though China has banned ICOs, Chinese residents continue to participate and register money where it is actually legal. So do you think the ban is forever or are they going to drop the bans initially?
China ban ICO to protect their people from fraud. For the last 7 months there are 65 ICO's raised amount to $400 million and in August this year it reaches $750 million. A lot of ICO created in China and the goverment are afraid for there economy. The ICO ban is not a statement on either blockchain or innovation. Given the authorities' recognition that they need to continue to modernize the financial system, and the desire to become an increasingly important player in global markets, it is unlikely that the ban will last for long.