Cryptocurrency & ICO NEWS

Chinese financial analyst Xiao Lei published an article in which he claims that the crypto-currency has become a battlefield in the "new currency war" between China and the United States. Despite the fact that some people consider his views conspirational, this article still attracted considerable attention after the publication on one of the media channels Baidu Baijia, owned by the largest Chinese Internet company Baidu. In the article, Xiao Lei states: "As an investor, I'm worried if I can make money from investing in Bitcoin. However, if you look at the scale of the country, I am worried if I can use it, and if there are any factors that will be unfavorable for me in the future. "
Lei believes that in the modern world "the strategic importance of traditional commodity assets, such as oil and grain ... may not be so high when the confrontation between countries has entered the virtual space."

Despite optimistic rumors and expectations of the resumption of trading on November 1 by the largest exchanges of China - BTCC, OKCoin and Huobi - in China, new positive statements from representatives of these exchanges have not yet been received. They continue to develop sites in Hong Kong and are planning to expand to other countries in the Asia-Pacific region. BTCC froze the withdrawal of funds at 12 o'clock on Monday, as it was previously stated in the press release of the exchange, which followed the requirements of the Chinese government on September 4.

Chinese exchanges and operators of crypto-currency wallets, disappointed with the opportunity to continue working in their country, are in search of new opportunities and partners in neighboring Asian countries. Many translate their crypto-currency business in whole or in parts. For example, an application for licensing is submitted to Japan, and offices are located in Singapore and South Korea. The largest players who once dominated the world's crypto currency market, are forced to seek refuge in neighboring countries. At least 19 companies have applied for licenses in Japan.

The largest in Japan bitcoin-exchange Coincheck received "hundreds of requests" from Chinese startups to add to the listing their tokens after the ban of ICO in China. In an interview with the Chinese edition of the Global Times, the head of the Coincheck department for international development, Kagayaki Kawabata, said: "We receive hundreds of requests from Chinese start-ups and start-ups around the world to add their tokens after the Chinese government banned the ICO".

The position of China against public crypto-currencies is becoming more aggressive. But perhaps it has strategic rationale? For example, "clearing" the market for the introduction of state crypto currency, controlled by the People's Bank? Director of the Digital Currency Research Institute, created under the People's Bank of China, Yao Qian, very clearly outlined his vision of this issue in his statement at a meeting organized by the International Telecommunication Union.

The founder of the NEO platform, which recently announced the return of funds to investors in connection with the banning of ICO in China, Da Hongfei was a guest guest, along with Patrick Dai, developer of QTUM, on the Unchained podcast, organized by Laura Shin Shin), the editor-in-chief of Forbes. The main topic of the discussion was the recent events in China and their potential impact on the crypto-currencies and the development of the blockbuster.