Expectations have increased that the Chinese government will not take a step back or take a libertarian step on ICO and STO bans. In the regulator statement made by the economic official in the Beijing administration a while ago, it was stated that ICOs and STOs are prohibited in China, buying cryptocurrencies by the citizens of the country is not only recommended, but it is an action that is never allowed for citizens to participate and re-create ICOs and STOs.
Legally, the Chinese government has not yet banned cryptocurrencies and has only started to impose certain bans on ICOs. While these prohibitions prevent the purchase and creation of ICOs, it was also stated in the statement on STOs that it is prohibited and has some sanctions.
Why Is China Blocking ICOs?
ICOs in China It is seen as a security risk and because of this risk, the government wants to enforce ICO and STO bans. However, a certain part of the citizens in the country can participate in ICOs using some methods, and they can do this completely secretly from the Chinese government. The government, on the other hand, is constantly investigating these ways and taking steps to find them.