ICO Ban May Be Lifted With New Regulations In China

People University Faculty of LawDean of Yand Dong in China stated that a new regulation will be made in 2018 on cryptocurrencies in the country, and stated that ICOs will also be re-evaluated in this context. .

Division of Good and Bad ICO

Speaking at the Southeast Asian Blockchain Congress and also the head of Financial Technologies, Yang Dong said that the country is trying to make new regulations on the subject. He stated that he is ready.

Especially in the last 6 months, serious problems have arisen among both miners and people who trade cryptocurrencies in the country. In October 2017, some crypto currency exchanges traded in the country were closed, and the lawmakers specifically stated that they wanted a centralized exchange.

In the same period, ICOs were banned in the country and previously they wanted to raise money. Even successful projects could not issue cryptocurrencies.. However, the latest statements from Yang indicate that the country’s administration has softened a bit in this regard. However, it gave signs of softening about ICOs.

In the statements compiled by the Chinese press, the successful manager who used positive expressions about giving a chance to ICOs with a good project and infrastructure, however, is reliable. He also stated that they will work meticulously at the elimination of non-existent projects.

Speaking on the subject, Yang said:

“If there is a good ICO project, if it has a strong infrastructure and if it has people to invest, if he has a team that won’t let him down, of course it makes sense for him to show up.. It would be logical to develop a separate approach to each project, rather than putting each event in the same basket and saying that those who don’t like it should leave.. In the near future, we want to work together with the relevant government departments and find solutions.. Our door is always open to projects that can improve themselves and contribute to us.”

Chinese investors had a serious reaction to the recent cryptocurrency bans, and this reaction seems to be working, at least at this stage.. A similar incident happened in the neighboring country South Korea, and due to the great reaction of the people, the government abandoned some regulations and had to step back from some of its thoughts.

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