A video has emerged of an interview with Dr. Hu Bin, Deputy Director-General of the Institute of Finance and Banking (IFB) on CCTV-13, a national television channel in China.
In the interview, the host asks Dr. Hu Bin about the current ban on ICOs, who then confirms that the ban is just a temporary measure.
Q: Is this a total ban on ICOs, or will ICOs be permitted again, sometime in the future?
Dr Hu Bin: In reality, this suspension of ICOs in China is merely a halt, rather than a complete ban.
Dr Hu Bin then goes onto say that the main purpose of the halt was to allow authorities a chance to enact regulations to protect investors from illegal ICO activity.
When asked if regulations would stifle technological innovation, Dr Bin responded by saying that ultimately they need to find a balance between innovation and associated risk, and suggested a sandbox environment would be a suitable environment for testing this new technology.
You can find a link to the video and read the full transcript at this link –
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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