In a breaking news story, the PBOC has declared all ICO's illegal and expect remuneration from all previous ICO's. Is this the end of NEO? The price of Neo has dropped 60% since the news, and it is still to be seen what will transpire regarding the previous ICO's that have been run before this announcement.
My take is that China wants to cool the jets a little bit on all of these ICO's. Once they get a handle on some form of moderate regulation ICO's will be allowed to resume. Just like they regulated exchanges to prevent all of the margin trading going on with Bitcoin.
It's amazing to see how much money was stemming from China, since the announcement so many coins have lost double digits- Litecoin down $30, omisego down %10, the red is very noticeable. Do you think they will do an about turn and cancel the ban on ICO's some point in the future? I don't see how they can ask for remuneration for previous ICO's- how will they navigate that logistical nightmare of getting peoples investments back etc
Yes China will easy up. They are just trying to prevent mass fraud from shady ICO's. Chin supports crypto and like many other nations, want to move away from the U.S. Dollar
wow its time to buy NEO, the one. followed and upvoted hope you see my blog as well. good find on this one and thanks again for posting
I agree, great time to buy NEO! You're welcome, glad you found my post valuable :)
meep
Sorry I don't speak R2D2 ;)
meep
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