China’s initial ban on ICOs in September earlier this year was major news as China was without a doubt the cryptocurrency market leader. In the beginning of 2017, it was estimated that China accounted for 80-95% of the global volume. Now being two months after the crackdown, the long-anticipated China update has finally arrived.
According to RMB Theory, NEO will be leading China’s blockchain and cryptocurrency future. China is not a fan of anything that is unregulated, I mean they even banned Google and Facebook for goodness' sake. NEO’s open source public platform allows the Chinese government to potentially enforce regulation. Check out the full article here:
https://rmbtheory.com/china-allowing-icos-neo/
If this is true, this could mean huge money to come back into crypto! To make things more interesting, Neo will be making an announcement Monday morning (11/20/17), keeping the community on the edge of their seats over the weekend.
Hopefully this is FINALLY the end of the China FUD and we can all get some sleep knowing that good news is on the way.
Thanks for reading
-Nic