ALIS Media released a statement today informing that they will no longer be proceeding with NEO for their upcoming ICO. The NEO phase of the ICO had already looked to be delayed, but with the recent ICO ban in China, ALIS have decided to err on the side of caution and proceed only on Ethereum. ALIS do however acknowledge that they are still at risk of being restricted in China on the Ethereum platform.
The full statement can be read below.
Important announcement about cooperation with NEO team
Today we wanted to announce very important matter, ALIS’s launch on NEO. Please accept our deepest apologies but ultimately we have come to the decision to not have an ICO on NEO. We truly apologize for any inconveniences that this may have caused. We would like to take the opportunity to give you a detailed explanation.
On September 4th, 2017, The people’s bank of China said All ICOs in China have to be stopped and will be banned. You can know the details from here. https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html
Since we are Japanese company and not will be affected by this law, but we have to clear the position with NEO. As we mentioned, there is a regulation that all ICO are restricted in China. This means if we leave the room to launch ICO on NEO, Chinese government may restrict us and even there is a possibility to restrict our on going ICO on Ethereum. Our team is praying that the effect of the regulation will be minimal on the NEO team.
We apologize to be the one to suddenly end the collaboration however we would like to offer a potential compensation. Since our presence in the Japanese market is continuing to grow, our members are getting several offers to act as an advisory for other ICOs, and we are actually advising some of them. In such cases, we would like to introduce NEO to these projects.
We sent an email to Da Hongfei as well, but he is very busy now and we can’t get his reply back quickly, so we announced this statement by ourselves. We also deleted Chinese on our website.
We are so sad that we can’t work together with NEO team.
Once again, please accept our apologies for any inconveniences this may have caused and we are wishing for further success of NEO.