Share on Twitter
Share on Facebook
Share on Reddit
Share via Email
Share on LinkedIn
Share via RSS
Share on Google+

After Red Pulse announced they would no longer be allowing Chinese citizens to participate in their upcoming RXP ICO on September 10th – The first ICO to run on NEO – a wave of uncertainty ran through the market which saw NEO drop by around 26% to as low as $29.71, before rebounding back to the to $33 mark.

The move was triggered by news coming out of China that the People’s Bank of China (PBOC) and China Securities Regulatory Commission (CSRC) are looking at creating new regulations for initial coin offerings (ICO), and potentially banning all ICO activity until new laws have been put in place.

NEO founder Da Hongfei stopped by the NEO Slack briefly and shared a few thoughts.

The message was received positively by the NEO community, with many believing that NEO’s foresight to build compliance friendly features into the project framework will allow them to flourish where other currencies might fail in the face of regulatory measures.