Hi fellow Steemians,
The PBoC outlawed ICO's and trading of any cryptos (coin to coin and coin to fiat and back) on Monday.
http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9
Sad day for all them crypto enthusiastic people out there.
I do really hope that they (cause exchanges are still trading at least btc and ether) will regulate ico's only!
What about the so loved NEO...
Let's wait a few days and see what is really going on, especially on Chinese exchanges.
I personally do really hope that this is just for ico's in the end. When this passes I do fear that certain Banks will start to put pressure on Governments in order to ban cryptos elswhere.
In the end cryptocurrencies (the miners) are so widely spread over the whole Globe that it will survive such bad news. Especially when this news is spread by PBoC (People's Bank of China).
What do you guys think about this massive hit and the future of cryptos in general ?
Please leave your comments/thoughts on it!
Upvote-Comment-Resteem
Rip ICO'S
This post received a 1.5% upvote from @randowhale thanks to @spacehd! For more information, click here!
nice. China banning the ICO exacerbated the sell-off triggered by the 5,000 price marked for profit taking by major players. Check out this post to: https://steemit.com/crypto/@sandalphon/perfect-time-to-buy-bitcoin-and-other-crypto-currencies.
Upvoted. Here are insights on the Chinese ban and impact on the markets https://steemit.com/bitcoin/@thoughtchain/why-today-is-the-perfect-storm-for-bitcoin @thoughtchain