Chinese Entrepreneur Warns Against Mining and ICO Bans

Cai Wensheng, the founder of photo editing app Meitu, has expressed criticisms of the Chinese government’s prohibitive regulatory policies regarding cryptocurrency mining and ICOs.

He compared the ICO markets to the dotcom bubble of the nineteen-nineties, stating that of the hundreds of companies that listed IPOs in 1999 very few companies are left, however, one Amazon is enough — implying that heavy-handed restrictions on ICOs may result in China failing to facilitate the growth of potential major companies that could emerge through the disruptive ICO sector.

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