Chinese ICOs: China bans fundraising through initial coin offerings, report says

In a document, regulators said new projects that raise cash or other virtual currencies through cryptocurrencies will be banned. On the one hand it's not very surprising that a totalitarian government would seek to clamp down on technology that it finds hard to control, but on the other it's understandable that they would want to put a stop to rampant scams. Some of the best China analysis think it's likely that Chinese regulators will follow past precent by first banning ICOs and then gradually reintroducing them in a registered, permissioned manner. Again, it remains to be seen how long bans like this are effective before anonymous (and unstoppable) token issuances become mainstream. 


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