China ICO ban is temporary, will introduce licensing soon hints Chinese Official

The FUD over the China ICO ban seems to be over. After causing a global panic on Monday with the announcement of an ICO ban, a Chinese official has clarified the position saying that China will look to resume ICOs in the future after establishing licensing regulations. This was done via an interview on CCTV-13, a state run national television channel in China. When asked about whether the ban could stop innovation in the Blockchain Space, the official responded that this was not the intention of the ban and it was meant to protect investors. The explicitly said this was a “Stop” and not a “Forbidden” . The interview proceeded to mention Fintech and the benefits of it. One important take home is that talk about “regtech” – regulation technology, something that might be implemented in the future to allow ICOs that really need the money to be controlled and licensed.

Check a video recording of the CCTV-13 interview:

China ICO ban Timeline (Source Measurable Data Token)

Who was interviewed and it matters?

The interviewee, Hu Bing is from 中国社会科学院金融研究所 ( Institute of Finance and Banking, an academic research organization that’s only loosely affiliated with the State). This is important because he is not a major government official and the choice of the speaker is very strategic. Depending on how you interpret it, the speaker could represent the current line of thought for the government but also allow room to change their opinion if things go awry.

Discussion on Boxmining 

You may also like...

25 Responses

  1. 星陽 says:

    How are we sure that guy represents the government? He’s the deputy director of the Chinese Academy of Social Sciences, an academic research organization that’s only loosely affiliated with the State.

  2. CryptoSlayer says:

    Buy NEO and wait for two weeks. thank me later.

  3. Jono Turner says:

    “will look to resume ICOs in the future after establishing licensing regulations”
    So this is a nice way of saying they will drown this in so much paperwork and red tape Chinese ICOs will be an urban myth to tell your great great grandchildren about

  4. Qualified Expert says:

    So rather than buy NEO, why not buy LTC or ETH ?

  5. hi guys, someone have info about Aeternity ? this should be the third generation of blockchain

  6. What you said, we don’t forbid you, but you just have to fullfil these jaw-droping impossible terms.

  7. grin anderson says:

    What is all the FUD about?! It’s newbtorious. lol. Between Feb 9 and May 31 both OKCoin and Huobi suspended withdrawals. During that time they and the smaller exchanges implemented the KYC And AML reg’s the PBoC asked for. Why would the PBoC come in and stomp on them again?

  8. Eithan says:

    Video is down guys..

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.