To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more

Starbucks is not accepting Bitcoin, but builds an exchange

It will generally allow the crushed and boiled crypto investments to be converted to the crushed an...

In China, can lift the ban on ICO

But we need a regulatory framework.

28.Jun.18 9:35 PM
By Johnatan Toadlicker


In China, can lift the ban on ICO
Analysts of the Chinese Banking Regulatory Commission (CBRC) believe that the ban on ICO in the country can be canceled - you just need to develop competent legislation that will allow monitoring the situation. For example, digital money and all derivatives from them can be considered financial services.

In the opinion of representatives of the commission, transactions with crypto-currencies, ICO, and exchange transactions should be placed in the appropriate financial regulatory framework, so that they could be executed on licensed grounds.

The document notes that the legal status refers not only to ICO and crypto-currencies but also to services related to digital transactions. Earlier, the authorities of China did not mention the possibility of licensing market participants.

Recall, in the Middle Kingdom, the primary location of the tokens and the trade in digital money fell under the ban last year. The Central Bank intends to tightly control the situation in this area, as it allegedly threatens economic stability. In addition, from China massively leave the miners, who are looking for a more convenient place for their activities.

Back to the list

Related Information: