On the possible resurgence of ICO in China, but already within the framework of clear rules set by the authorities, said Yang Dong, vice president of the People’s Juridical University of China, during the South-East Asia blockade summit.
That’s what Yang Dong said, being the speaker of such a famous event for the members of the Asian crypto community:
“For good ICO projects, it is necessary to create the opportunity for development in a legally secure, controlled environment. You cannot row all the same. The Chinese Securities Regulatory Commission could very well have launched a pilot project of buying shares based on crowdfinding in the near future. And it is on this project that the ICO will be able to orient in the future. “
Yang Dong spoke in favor of the need to control primarily over-the-counter markets, and not centralized exchanges. In his opinion, regulation will fulfill the role of a filter that will mark the “bad” ICO projects and will allow developing “good”.
His point of view was supported by Henry Wong, the expert on Chinese cryptology, the founder of SmartMesh.io and the president of the International Blockchain Application Federation (IBAF).
“The ICO is an extremely useful social and financial tool to attract investments for projects requiring funding. True, there are a lot of scammers in this sphere. It’s good that the blocking communities are self-organized and extremely active, they independently monitor funds that conduct ICO-projects. We can assume that the ICO will return to China immediately after the appearance of clear rules. “