Regulation in exchange for legitimacy

Experts opinion on the prohibition on the ban of ICO in China.

05.Sep.17 11:57 PM
By Mark Gainer
Photo Toinnov.com

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The decision of the Central Bank of China on the ban of ICO was expected and will lead to the legalization and growth of the cryptocurrency market, its participants and experts believe. Until now, Chinese regulators have almost not impeded the development of the market, which allowed the country to become the world center of mining and trade Bitcoin. However, the lack of regulation and crowdsale through the sale of tokens attracted a lot of scammers and fictitious projects, which were collected crypto-currencies.

Chapter OneTwoTrip Mikhail Sokolov believes that certain restrictions will benefit the "wild" ICO market, and relief will follow them. Regulators of different countries can develop certain norms of crowdsale through the ICO. The founder of DeCenter, Evgeny Gordeev, also expects that China's example will be followed by others and considers legitimization of ICO as a general trend, which will lead to a rapid growth of the market.

As previously reported, the People's Bank of China has banned from September 4 to raise funds through the ICO, declaring them the illegal receipt of funding. Individuals and companies that previously held ICO should return the money to investors.

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