Biggest News ever in the history of Cryptocurrency. It is like a nueclear bomb in the crypto market. It is the strongest regulatory challenge for this digital assets. Chinese government conducted a huge investigation on ICO's and concluded that it is illegal. Any kind of future ICO will be punished severely. Those who already raise money must be refunded to the investor. Another important factor of this ban is that Digital coin can not be exchanged with fiat currency.
China ICO ban already causes a big ripple in the cryptocurrency market. Crypto market reacted promptly. Bitcoin is down by 4.37 % Ethereum is down by 13.62 %
Look at Neo, down by 36% . Investors are panicked and selling their crypto.
Especially Chinese coin price fall sharply. Look at Binance down by 57%
Just few minutes back, Binance issued a statement to the investors
Build a lucrative website, Hire some celebrity to talk about your project, Conduct ICO, Raise huge money and forget about the project. This should not happen. In this case, strict regulation is okay.
To my mind, Illegal ICO should get punishment. But good project should continue. But the question is who will decide which project is the good one.
"I am not a professional consultant. Please take care of your hard earn money"
Chart Source: Coinmarketcap.com
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