China Showing Signs of Blockchain Continuation? by moxi

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crypto-news · @moxi · Oct 3 '17 (edited)

China Showing Signs of Blockchain Continuation?

![](https://steemitimages.com/DQmQwV5sv4Bw4Gio4jLYWQfvqd9whkGuh1bXKkPgrtVfccK/image.png)

Coinbase [published an article](https://www.coindesk.com/pboc-advisor-china-right-ban-icos/?utm_content=buffer2eab6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer) showing the face of the  defenders of  China's ICO ban.  

What's interesting to me is what Sheng Songcheng, counselor to the People's Bank of China (PBoC) and an adjunct professor of economics and finance at the China Europe International Business School, had to say...

"I fully agree with the move to ban ICOs in China, and the calls for refunds to be made to investors. In my opinion, these actions are largely aimed at averting risk and protecting investors’ interests while also being an opportunity to further regulate trading of virtual currencies. **Still, it is important for China to continue to encourage the current development direction of blockchain technology."**

That last part to me is an encouraging statement to show that China is still very much interested and eager to be a leader in the Blockchain space.  With a bit of added regulation China could be right back on track in the crypto space.

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👍 arnel, alan323, moxi, primetimesports

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@arnel · Oct 3 '17

China is just out to regulate ICO's it will soon go back with better regulated cryptocurrency and should shoot the value of Bitcoin once again.

👍 arnel

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@moxi · Oct 3 '17

Agreed.

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