Good News! China ICO ban is temporary hints Chinese Official

After a more than 20% crypto crash caused by uncertainty of the status of Chinese ICOs, an official from Chinese Academy of Social Sciences has been quoted on public television CCTV Channel 13 as saying that the ban was a stopgap measure meant to protect the interest of investors given the recent rush into ICOs.

When asked about the ban, the official responded that it was not the intention of the ban to stop innovation and that ICOs are not forbidden. He continued to mention the merits of Fintech and the benefits of blockchain technology.

It is important to note that the person being interviewed is deputy director of the Chinese Academy of Social Sciences (an academic research organization that’s only loosely affiliated with the State). As with most such interviews, the person interviewed and views offered are aligned with the official view and yet does not explicitly represent the view of the government. This allows for changes in case things go wrong.

A video recording of a CCTV 13 interview with an official of Chinese Academy of Social Sciences seems to hint that licensing of ICOs is on the horizon. http://www.miaopai.com/show/dVaBJDt-e17CegTNejRK3Yucmb-COufKeVOduQ__.htm

China ICO ban Timeline (Source Measurable Data Token)

With the FUD possibly over, we are seeing the recovery of the crypomarket in general especially the price of NEO which has recovered from it's low of less than $20 to over $25.