日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

ICO ban seen helping improve regulation

By Ren Xiaojin | China Daily | Updated: 2017-09-09 09:05
Share
Share - WeChat

China's top regulators, including the central bank, have banned ICO practices. [Photo/VCG]

China's recent ban on initial coin offerings is not expected to deter the commercial usage of blockchain technology, analysts said. Rather, they believe the ban to be a necessary step for better regulation of the technology.

Sheng Songcheng, a senior official of the central bank, said during an interview with China Business Network that blockchain is a promising technology and such scrutiny will only push the industry toward a healthier path.

"To eliminate the market frenzy once and for all so that everyone can start again by following the new rule is a very meaningful strategy," Sheng said. "Cryptocurrency is the most well-known practice of blockchain. It is impossible to stop it, but it is time for efficient scrutinizing."

China's top regulators, including the central bank, have banned ICO practices, an increasingly popular application of blockchain globally, which has helped Chinese startups raise almost 2.6 billion yuan ($400 million) in the first half of the year, according to a report by experts on the internet financial security technology.

The crackdown led to a 20 percent fall in the price of Bitcoin from $5,000 to $4,000 three days after the ban, as China has one of the largest number of cryptocurrency owners.

A fintech worker who requested anonymity said the Beijing-based company he worked for has stopped its ICO project.

"Certain regulation is necessary," he said. "But as ICO has been such an efficient way for tech companies to raise funds, I believe it is more likely to be a short-term ban until they can regulate it efficiently."

"ICO could have been a creative tool for startup if used well," said Huang Zhen, director of the research institution of financial laws in the Central University of Finance and Economics. "Currently, there is an unhealthy frenzy toward ICO which has attracted lots of players without adequate knowledge about blockchain or ICO. Such irrational investment can lead to potential financial risks."

The ban "is to protect the financial technology sector and investors with strong regulations, and stop illegal fundraising," Huang added. "It will help both startup owners and investors to stay away from irrational investment behavior."

Yu Liang, chief operating officer of Qingsongchou Network Technology Co Ltd, one of China's leading blockchain companies, said the commercial application of blockchain is still rare in China and the ban on ICO will not stop the industry from growing, but encourage those in the industry to use the tool in a legal way.

"Blockchain has a promising future in the financial sector, from what is happening in the world," Yu said. "Its nature of decentralizing, transparency and tamperproof makes it applicable in wide areas such as charity."

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 色鬼综合 | 国产亚洲欧美一区二区三区 | 亚洲裸体视频 | 亚洲影视网 | 中文精品久久 | 性高潮久久久久久久 | 超碰蜜桃 | 天天操国产 | 92午夜视频| 亚洲成熟少妇视频在线观看 | 波多野结衣一级 | 自拍偷拍校园春色 | 日韩午夜三级 | 97国产| 在线免费国产视频 | 国产伦精品一区二区三区免费视频 | 一级一级黄色片 | www.亚洲一区 | 中文字幕在线观看一区 | 国产色视频在线 | 日韩精品福利 | 精品国产乱码一区二区三 | 男人在线观看视频 | 天天插天天 | 国产精品男女 | 日韩一区二区三区不卡 | 亚洲视频免费在线观看 | 国产一二区在线 | 国产一区二区三区视频 | 99九九视频 | 欧美一级爽aaaaa大片 | 99久久久免费精品 | 欧美在线三级 | 亚洲一区第一页 | 色婷婷久久综合 | 欧美日韩乱国产 | 日韩视频中文字幕在线观看 | 丁香六月激情综合 | www一级片 | 手机在线播放av | 午夜色av|