Regal Tribune

Sunday, January 17, 2021
Log in
  • National News
  • Business
  • Technology
  • Science
  • Health
  • About Regal Tribune

Pages

  • About Regal Tribune
  • Body of Woman Discovered in Gwinnett Place Mall Identified
  • Compulsory Vaccines for Children
  • Contact Us
  • High Tides Are the New Danger in U.S. States
  • Homepage
  • Our Team
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Canadian Teen Dies on School Trip from Toxic Shock Syndrome Jun 29, 2018
  • Unesco Removes the Belize Coral Reef from Its List of Endangered Sites Jun 28, 2018
  • Tonight, the Blood Moon Coincides with the Longest Lunar Eclipse of the Century Jun 27, 2018
  • People Are Paying Hundreds of Dollars Just to Own Official Fortnite Disc Copies Jun 27, 2018
  • Researchers Reassess the Fermi Paradox, Showing We’re Probably Alone in the Universe (Study) Jun 26, 2018
  • The Latest Xbox Update Might Bring Keyboard and Mouse Support on the Console Jun 26, 2018
  • Researchers Invent Miraculous Plaster that Effectively Treats Oral Ulcers Jun 25, 2018

China Is the First Nation to React to Initial Coin Offerings

Sep 4, 2017 By Benjamin Teh Leave a Comment

Email, RSS Follow

bitcoin coins

The Chinese government is not on board with financial activities based on digital currencies. Therefore, the authorities are reportedly taking a stand against initial coin offerings that began to shape a new line of possibilities for start-ups. This approach will likely lead to the suspension of several pending reviews. On top of that, there is going to be a long time until lawmakers would start regularizing this new territory.

Two Summits This Summer that Gathered Players within the ICO Sphere Were Cancelled under Suspicious Circumstances

One of the signs signs of offensive demeanor against digital coins was the cancellation of the 2017 DACA Blockchain International Summit Forum. The event was supposed to take place in Beijing last Saturday and gather hundreds of ICO and Bitcoin businesses and investors together.

However, organizers made a last minute announcement that the event would no longer be possible. The explanation they offered regarded public safety concerns. There were too many purchased tickets and too narrow a space.

The event cancellation would have gone unnoticed if it weren’t for a similar phenomenon that took place recently. On August 22, Shanghai authorities put an end on the Finwise 2017 Global Blockchain Summit. Most people believed this incident to be a misunderstanding between organizers and business authorities.

The Central Bank of China Is Considering to Label Initial Coin Offerings as Illegal

It seems that an emergency report triggered this chain of events. On August 21, the central bank received a warning that viewed initial coin offerings as a new type of illegal practices. Stakeholders of the central bank studied a large collection of ICO white papers.

Their main conclusion was that 90% of these activities bear signs of fraud or illegal cryptocurrency funds. On the other hand, the study suspects that only 1% of the companies are truly unlocking this new form of financing for technology projects.

As a consequence, the Chinese central bank is weighing in the decision to classify this kind of financial activities as illegal fundraising. The institution resorted to a 1998 act that the Chinese State Council issued which stipulates that fundraisings need legal approval to be considered valid.

Image source: 1

Email, RSS Follow

Filed Under: Business

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 11 other subscribers

Recent Articles

Starbucks coffee.

California Family to Sue Starbucks over Drinking Coffee with Blood

Feb 11, 2018 By Benjamin Teh Leave a Comment

uber app

Portland Officials Learned Uber Activated Software to Deceive Ride Service Regulators

Sep 16, 2017 By Jose Buttner Leave a Comment

tesla model s

Tesla’s Free Software Upgrade for Drivers Affected by Irma to Expire on Saturday

Sep 12, 2017 By Jose Buttner Leave a Comment

hurricane aftermath

Companies Assess the Economic Toll of Two Hurricanes Hitting the U.S.

Sep 11, 2017 By Lori Martinez Leave a Comment

chipotle restaurant

Chipotle Announced Nationwide Launch for Famous Cheese Sauce, Queso

Sep 6, 2017 By Lori Martinez Leave a Comment

bitcoin coins

China Is the First Nation to React to Initial Coin Offerings

Sep 4, 2017 By Benjamin Teh Leave a Comment

people sheltering from flood

Best Buy Gives Its Apologies for Water Price Gouging after Hurricane Harvey

Sep 2, 2017 By Graziella Paone Leave a Comment

uber driver

Uber Will Quit Surveillance Feature after Riders End Their Trips

Aug 31, 2017 By Benjamin Teh Leave a Comment

uber car

Uber Introduces New Flexible Driver Benefits

Aug 24, 2017 By Graziella Paone Leave a Comment

mountain view

Interior Department Kills Study on Health Hazards of Appalachian Mountaintop Removal Coal Mine

Aug 23, 2017 By Jose Buttner Leave a Comment

volkswagen minibus

Volkswagen Is Bringing Back the Sassy ID Buzz Minibus in Electric Version

Aug 21, 2017 By Benjamin Teh Leave a Comment

howard schultz interview

Starbucks CEO Speaks out about Charlottesville Violence

Aug 19, 2017 By Jose Buttner Leave a Comment

michael o'leary

Ryanair CEO Opposes Collaboration between Lufthansa and Insolvent Rival Air Berlin

Aug 18, 2017 By Lori Martinez Leave a Comment

aldi logo

Aldi Distances Itself from Competitors with New Grocery Delivery System

Aug 14, 2017 By Jose Buttner Leave a Comment

Related Articles

  • Starbucks coffee.

    California Family to Sue Starbucks over Drinking Coffee with Blood

    Feb 11, 2018
  • uber app

    Portland Officials Learned Uber Activated Software to Deceive Ride Service Regulators

    Sep 16, 2017
  • tesla model s

    Tesla’s Free Software Upgrade for Drivers Affected by Irma to Expire on Saturday

    Sep 12, 2017
  • hurricane aftermath

    Companies Assess the Economic Toll of Two Hurricanes Hitting the U.S.

    Sep 11, 2017
  • chipotle restaurant

    Chipotle Announced Nationwide Launch for Famous Cheese Sauce, Queso

    Sep 6, 2017
  • people sheltering from flood

    Best Buy Gives Its Apologies for Water Price Gouging after Hurricane Harvey

    Sep 2, 2017
  • uber driver

    Uber Will Quit Surveillance Feature after Riders End Their Trips

    Aug 31, 2017
  • uber car

    Uber Introduces New Flexible Driver Benefits

    Aug 24, 2017
  • mountain view

    Interior Department Kills Study on Health Hazards of Appalachian Mountaintop Removal Coal Mine

    Aug 23, 2017
  • volkswagen minibus

    Volkswagen Is Bringing Back the Sassy ID Buzz Minibus in Electric Version

    Aug 21, 2017

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Science
  • Technology
  • U.S.

Copyright © 2021RegalTribune.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.