Chinese media: the ban of ICO can easily be circumvented

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Chinese media: the ban of ICO can easily be circumvented
2018-09-27 in ALTCOINS

The Xinhua News Agency team identified opportunities to bypass the ban on primary coin offerings (ICO) and cryptocurrency in China. The study is published on the official website of the resource.

The main way to bypass the ban of ICO in China, according to experts, can be working through fictitious foreign “one-day companies”.

According to the agency, after tightening the regulation of the Crypto-currency market and ICO in China, local exchanges of digital assets moved their activities abroad. Although they closed for the domestic market of the country, the possibilities of providing trade services for users of the home region were preserved.

Most companies chose Malta as a new jurisdiction. According to the researchers, this is evidenced by the widespread use of the Chinese language in registered on the island state trading floors.

According to Xinhua, Telegram channels are actively used to coordinate and alert Chinese users about the possibilities of working with crypto-currencies and ICO.

“It seems that over-the-counter transactions do not violate any laws, due to which the channel for the transfer of ICO-tokens was opened,” – the news agency insider said.

Most of the measures taken by the Chinese authorities to ban Internet access to ICO projects, according to the agency, can be circumvented using virtual private VPN networks.

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