China ICOs update: likely to be regulated and controlled rather than Banned outright

As you know a lot of the crypto markets tanked this week on news China was banning ICOs

In the link below, Boxmining who is bilingual analyses the interview that was on mainstream China TV last night and adds what he knows of China.

I like this guy as he is fairly balanced when analysing things and tries to use factual information

Key points I took out of box minor are:
1.The interview was on national TV. It is quite common for the Government to use a minor official in a think tank or institute to speak for them just so they can change their mind later if they want to

1. The guys talks about fintech being important and not wanting to crush cryptocurrencies but to provide some sort of sandbox and that regulation will follow
2. Boxminor said over and over that it is clear the government wants to make people bend at the knee to the big dragons and show they are willing to bow down to the government and comply. Then the government will start to talk about what is possible. Boxminor suggest the government may also want to impose some sort of tax in due course so they get a cut
3. Boxminor said china acts quickly and this would likely be a matter of months not years
4. But anything could still happen.