Is China Going to Legalize ICOs / Cryptocurrency ?

Many people are asking if China is going to legalize ICOs in the very near future. And there is a lot of buzz about this subject specially since the biggest newspaper in China has been hosting a BLOCKCHAIN seminar all week.

Is China Going to Legalize ICOS?

According to the newspaper's webiste, this conference is about blockchain technologies and how to implement this kind of technology into the industrial sector in a more efficient way. China always seemed to be a huge fan of the blockchain technology, not to mention that they are still home to the largest Bitcoin Mining facilities in the world.

The People's Daily (largest newspaper in China) says China will lead global blockchain innovation and regulation

So, what does it mean?

It means that probably that "China ban" was something temporary! And what else can we ask ourselves about this subject, with these facts in mind?

If They are Agains ICOs, Why would China Host a Blockchain Conference?

Answer: Probably because China was never really against cryptocurrencies, but actually because the prohibition is temporary, just to allow them to take control over their population, otherwise things could get harder for them, since cryptocurrency could provide a new class of wealth With this, they could slow down the process of adoption until they are able to control their market.

Why Would They Allow Crypto Developers to have a voice?

For the conference mentioned above, two Cryptocurrency Projects were invited. According to the seminar details, members from QTUM and IOST were invited for the conference, to talk about their projects. These platforms are able to host ICOs with greater functionality than a second generation coin such as Ethereum.

A State-Owned Exchange?

Most likely China is going to have a state-owned exchange and if that's the case, you can expect that probably QTUM and IOST would be between the first names to be approved to get on that Exchange. And let's take a look at both of these coins... (see below)

Can you notice that IOST and QTUM seem to be holding very strong, despite the fact that almost every single coin is going down? This leads to the thinking that big Chinese whales, probably because of insider information, are already buying both of the coins. Something big incoming? Only time will tell...