China’s People’s University Law School vice-president Yang Dong has let slip the country is preparing new regulation on cryptocurrency and ICOs for 2018.
Sorting ‘Good’ From ‘Bad’ ICOs
Speaking at the Southeast Asia Blockchain Summit, Yang, who is also director of the Center for Financial Technology, further “denied” a blanket ban on cryptocurrency trading and ICOs would continue indefinitely.
China has enacted a major clampdown on how citizens can legally access and trade cryptocurrency in the past six months.
September saw the second exchange shutdown of 2017 become a permanent moratorium on crypto-to-fiat platforms, with lawmakers signaling earlier this month they would seek to end “centralized” exchange activities altogether.