Chinese Crypto Crowd Scrambles For Token Issuances As ICO Ice Age Approaches

The mood at a blockchain conference in Seoul, South Korea attended mostly by the Chinese crypto crowd this week was a mixture of euphoria, unease and desperation.

Despite a Chinese government ban of ICOs, which is essentially a way for new blockchain projects to raise capital via issuing new tokens to investors, ICO projects have continued in the Chinese crypto community. Some projects started by Chinese teams are registering entities overseas and target overseas investors to raise capital. Others aim to raise capital from qualified investment institutions in China, instead of from individual investors, which is now prohibited.

There is a clear perception that the window for ICOs is closing, and new projects are scrambling to get token issuance done before it shuts completely.

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