China Rules Against ICO's! Bitcoin Down 5%

So China has ruled against ICO's!

So we've all been rudely awakened this morning with he news that China has ruled against ICO's. China has asked local government to crack down on companies who raise capital through ICO's and has asked that any company who has raised money through this method should make preparations to return the money raised.

Bitcoin fell by 5% while Steem has gone from 1.50 to 1.30.

China are not the first country to move against ICO's. Countries like the us and Singapore have highlighted the risk to investors of this fund raising method.

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

@MadMan198