Ethereum Dips After China And South Korea's Ban ICO
September 4, 2017
The price drops after crackdown on so-called "Initial Coin Offerings" (ICOs) in China. ICOs are where startups companies raise money by issuing new digital currencies or tokens that can be traded online.
Bad news for Ethereum. Ethereum's blockchain is the most popular platform to use when hosting an ICO
Monday, Ethereum still remains up over 2,000% over the last year. Startups raised over $1.5 billion through ICOs in the first half of the year which create most of the value for ETH.
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Thanks for this. Correct me if I am wrong, but ETH itself is not illegal in China, right?
Ethereum is not an ICO, ETH is the platform for ICO's
Thanks. That's what I presumed. It just sounded at one point as though ETH trading might be affected as a consequence of the ICO ban.
Tip: Anything China Bans Invest it it. ETH won't die this is just temporary. Remeber India Ban Bitcoin & after the years of achievement it has been approved. They will simply keep ico plan until regulation can minimize scam.