So far this year, crypto mania–as it’s often called by traditional news sources–has continued to grip the masses as the prospects of blockchain technology become increasingly exciting. Some pundits called for a slowdown in ICOs this year, but nothing has been further from the truth. According to CoinSchedule data, ICOs have already raised 2.95 billion USD in 2018. This is a little more than three-quarters of the astounding 3.88 billion USD raised in 2017. If this incredible growth keeps up, 10 billion USD by year’s end is more than plausible.
ICOs have been surprisingly resilient to perhaps their biggest threat thus far–government regulation. China, the most notable opponent of cryptocurrencies and ICOs, is stepping up their game by using their state media arm to take aim at crypto trading and ICOs. A February report by the Xinhua News Agency detailed how crypto trading platforms domiciled outside of mainland China, but still open to Chinese investors, should be considered as attempts to bypass existing laws and regulations. These and other actions demonstrate just how serious China is about cutting out all crypto trading and ICO participation.
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