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RE: Red Pulse ICO excludes chinese citizens as China cracks down on ICOs

in #bitcoin7 years ago

I strongly agree with bentylerlive from reddit:
(https://www.reddit.com/r/NEO/comments/6ws460/why_chinese_regulations_of_icos_benefit_neo_in/)
First off, to all the people who think China will ban ICO's: That's simply not going to happen. It would make a lot of very rich people angry in China. Let me explain. So far, the Chinese are making better financial decisions overall than the west. They beat us on trade. They beat us on investments. They're ahead of us in technology. Chasing capital away from their country is the last thing the smart and fair people of China will do. Let me also remind you that not participating in an ICO for whatever reason, doesn't mean you've forever missed out on an opportunity to purchase. A Chinese regulated ICO market is a market which gives investors confidence. Having specific rules in place gives the market a sense of permanency and legitimacy. It reassures many investors in China that the Chinese government is watching very closely for cases of fraud, and will react in order to protect the public. That's bullish for NEO. Although many western investors hold "Caveat Emptor" as a guiding principle, the Chinese are much more pragmatic in their approach to finance. They expect clear and honest dealings with firm consequences attached to those who deviate from the status quo. Incoming regulations were inevitable. Even if they weren't, we still don't want a series of low quality ICO's clogging up the NEO platform. NEO should be associated with quality and functionality, first and foremost. Like all of you, I look forward to NEO becoming the premier digital platform led by the fine folks in China, and now we are one step closer to that goal.

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there are a lot of assumptions here that are based on what we think we know about China.

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