Just when you thought China wasn't interested in I
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Posted On: 06/02/2018 9:58:15 PM
Just when you thought China wasn't interested in ICO's...
CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN
"China’s People’s University Law School vice-president Yang Dong has let slip the country is preparing new regulation on cryptocurrency and ICOs for 2018.
SORTING ‘GOOD’ FROM ‘BAD’ ICOS
Speaking at the Southeast Asia Blockchain Summit, Yang, who is also director of the Center for Financial Technology, further “denied” a blanket ban on cryptocurrency trading and ICOs would continue indefinitely.
China has enacted a major clampdown on how citizens can legally access and trade cryptocurrency in the past six months.
September saw the second exchange shutdown of 2017 become a permanent moratorium on crypto-to-fiat platforms, with lawmakers signaling earlier this month they would seek to end “centralized” exchange activities altogether.
September also saw a sudden halt on ICOs, with projects which had already accrued funds but not launched tokens being obliged to return investments.
Against the current backdrop of additional clampdowns on mining activity in China, Yang’s words thus appear surprising.
While confirming over-the-counter and overseas exchanges “would be strictly regulated,” local news outlet 8btc reports that Yang added that the remedial regulatory climate in China was ostensibly meant to weed out “bad” ICO projects to allow bonafide offerings to flourish."
CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN
http://bitcoinist.com/chinese-official-new-re...d-ico-ban/
CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN
"China’s People’s University Law School vice-president Yang Dong has let slip the country is preparing new regulation on cryptocurrency and ICOs for 2018.
SORTING ‘GOOD’ FROM ‘BAD’ ICOS
Speaking at the Southeast Asia Blockchain Summit, Yang, who is also director of the Center for Financial Technology, further “denied” a blanket ban on cryptocurrency trading and ICOs would continue indefinitely.
China has enacted a major clampdown on how citizens can legally access and trade cryptocurrency in the past six months.
September saw the second exchange shutdown of 2017 become a permanent moratorium on crypto-to-fiat platforms, with lawmakers signaling earlier this month they would seek to end “centralized” exchange activities altogether.
September also saw a sudden halt on ICOs, with projects which had already accrued funds but not launched tokens being obliged to return investments.
Against the current backdrop of additional clampdowns on mining activity in China, Yang’s words thus appear surprising.
While confirming over-the-counter and overseas exchanges “would be strictly regulated,” local news outlet 8btc reports that Yang added that the remedial regulatory climate in China was ostensibly meant to weed out “bad” ICO projects to allow bonafide offerings to flourish."
CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN
http://bitcoinist.com/chinese-official-new-re...d-ico-ban/
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