The Land of Stop...Start
This week the main headline was…‘China bans all Initial Coin Offerings’. This type of regulatory action in China is common, not just in the crypto space but across all aspects of life in China.
The standard operating procedure for any developing ‘happenings’ in China is to ban them, the authorities then do a review, they then normally issue some laws or guidelines and things go back to normal. This will be the case with the so called ban on ICO’s.
Apart from the initial hysterical reaction by the markets, things have already calmed down and I fully expect that by the time the laws or guidelines are issued, the markets will be well over the level they were at earlier this week when news of the ban started to filter through.
On the whole, having some laws or guidelines will be a good thing as it is one step closer to mainstream adoption of crypto assets as an investment asset class.