>Ethereum and bitcoin [crashed] this morning, after China confirmed its recent threat of an ICO crackdown when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China’s central bank website. The PBOC also asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the controversial if surging market for digital token sales.
>The crackdown was announced in a statement on the PBOC's website in which the central bank said that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. The regulator said that organizations or individuals that completed initial coin offerings should return the money raised, in move "to protect investors’ rights and properly handle risks," though it didn’t specify how the money would be paid back to investors.
>Taking the recent SEC crackdown on Initial Coin Offerings several steps further, the PBOC also said digital token financing and trading platforms are prohibited from doing conversions of coins with fiat currencies. Digital tokens can’t be used as currency on the market and banks are forbidden from offering services to initial coin offerings, and are also also banned from offering pricing and information services on coins. Most importantly was the PBOC's determination that "digital token can’t be used as currency on the market" and its warning that "China will strictly punish over sustained offerings and law violations in completed ones."
Ethereum, Bitcoin Crash After China Declares Initial Coin Offerings Illegal
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Why do the chinks have to fuck everything up
Gooks can't do anything right
This is just FUD from people who have shorted Bitcoin. Dont fall for it. There is only a TEMPORARY halt on ICO's from China.
LETS GET SOME WOJACKS IN DIS BIH
>Temporary
Source?
Yeah, didn't think so..
It is temporary but it could take years.
Bitcoin will go down to $1K USD, maybe even sub.
This isn't attractive for investors at all.
Things go up, things go down.
Not saying here at all that bitcoin shouldn't be invested in but we might be going into a bear market here real fucking soon. This shit took off in March and crashed September. That's exactly what happened in the past. 'Tis the season.
plz crash plz crash
Its gonna take a huge dip right now. get ready
> Temporary as in permanent
so don't buy golem?
NEVER TRUST THE CHINESE
WHY DIDNT I LISTEN TO MY OWN ADVICE
THE DOLLAR SIGNS IN MY EYES WERE TOO GREAT
When you get meme ICOs like this
you understand why they do it. That being said, I think is close to the money. Doubt a $1k ballpark though
Could we list the factors that might pump or drop the price of BTC?
>exchange traded fund: moon mission
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Why would banning ICO affect bitcoin?
Thats all ETH
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nice
finally sold etherium, lost a single dollar but I FEEL FREEEEEEEE