ICO's have been banned by the Chinese Government in the wake and rise of ICO's and their funding model, surely this is expected due to the fact that in China over the last year more than $1.5 yen has been generated using this method from coin startups in China. The PBoC (Peoples Bank of China) has said that they are doing this to protect the people and investors in China from a common scam that takes place in the stock market called pump and dump. All recent ICO will have to refund the initial buy price of the coins to investors.
Could this be the calling for other countries to put in place regulation on these exchange companies that allow you to trade coins for coins and other new coin startups that offer ICO, we think this may be the case and we could see this happening soon. Given there is nearly 860+ current digital coins currently listed on Coin Market Cap. James Gong the founder of ICOage is waiting to hear more from regulators in China to see what the future is for ICO and if they plan to completely ban them all.
Some of you may of noticed the price drop on several almost all Cryptocurrencies recently and this was the cause.
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