The regulations of the Chinese authorities regarding initial coin offerings or known as ICOs have a high probability of being positive news for NEO – formerly known as Antshares or The Chinese Ethereum.
The above provisions!
According to the source, the security strategy will be to set limits on ICOs, observe and monitor tokens, and issue warnings of investment risks. In the event of a market risk, the plan will end with a high probability of rejecting and suspending all initial coin offers.
Another plan to be put into operation was confirmed by Caixin yesterday. He stated that movements and actions taken in connection with ICOs will be based on an executive order formed by the State Council in 1998.
“Illegal financial business activities include: fundraising campaigns aimed at certain items without legal authorization, or other activities that the People’s Bank of China has identified as illegal.”
A bullish market advance could be waiting for NEO
Considering that NEO is already working by the rules and suggestions, “The Chinese Ethereum supports functionality and quality” while it is from China – NEO could easily be the leading digital platform in the country.
The community
A full explanation could be noticed by a community commenter with the idea that regulations must not be overlooked and it will end with an overall market decline period for all blockchain assets, but the end side will be a more stable market.
“First of all, to all of the people who believe that China will ban ICOs: it just won’t happen. It would upset a lot of very rich people in China. Let me explain. When certain rules are in place, it gives the market a sense of consistency and legitimacy. It reassures many investors in China that the Chinese government is very careful about fraud and will respond to it[sic] protect the public. That’s bullish for NEO. In-depth regulations were inevitable. Even if it weren’t, we don’t want a bunch of low quality ICOs to clog the NEO platform. NEO should primarily be associated with quality and functionality. Like all of you, I look forward to NEO becoming the leading digital platform led by the fine people of China, and now we are one step closer to that goal. “
Soon Just good marketing and promises won’t be enough for ICOs to make their debut.
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