KyberNetwork ICO Bans All Chinese Nationals and Citizens From Participating

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Any company organizing a cryptocurrency ICO need to tread very carefully these days. With China cracking down on ICOs altogether, taking ample precautions is of the utmost importance. This may very well lead to all projects banning Chinese investors from participating in the future. KyberNetwork, an upcoming initial coin offering, is taking those steps exactly. A very controversial decision according to some, but it’s best to err on the side of caution.

KyberNetwork is one of the first cryptocurrency ICOs to take such drastic steps. In the past, initial coin offerings have struggled with US investors as well. More specifically, the SEC is contemplating whether or not ICO tokens are securities. This forces project organizers to take ample precautions in this regard. As a result, US investors are often barred from investing in most ICOs these days. Enforcing such an artificial blockade is not all that easy, though. It requires effectively banning IPs, which can still be bypassed with a VPN.

KyberNetwork Sets an Intriguing ICO Precedent

It will be interesting to see how KyberNetwork handles all of this. More specifically, the team announced they will exclude Chinese citizens from the public token sale. No information was provided as to how

Read more … source: NewsBTC USA

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