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Why did china ban ico (the official version). However, the truth about china's relationship with crypto and blockchain is much more complicated than love or hate. The commission then states that the same law that bans cryptocurrency as money, recognizes it as a virtual commodity. Ico are just prohibited there. Bitcoin and other cryptocurrencies such as ripple and ethereum could be banned as china blocks access to the markets with its huge great firewall of china.
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Exchange platforms that traded cryptocurrencies or provided facilitation services.
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Last year, chinese regulators banned icos and cryptocurrency exchanges from the country.
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The repeated enforcements by the regulators were meant to protect its citizens.
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