The Chinese have learned to circumvent the ban on ICO
The main way of circumventing the prohibition of the ICO in China, according to experts, may be the work through fictitious foreign “one-day companies”.
According to the Agency, after the tightening of regulation of the market of cryptocurrencies and the ICO in China, local exchange digital assets have transferred their activities abroad. Although they were closed for the domestic market, opportunities for the provision of trading services to the users home area was saved.
Most companies have chosen Malta as a new jurisdiction. This, according to the researchers, evidenced by the widespread use of Chinese language was on the island state exchanges.
To coordinate and warning Chinese users about the possibilities of working with cryptocurrencies and ICO, according to “Xinhua”, actively used channels in the messenger Telegram.
“It seems that OTC transactions are not breaking any laws, and thus opened a channel for the transfer ICO-tokens”, — said the insider.
Most of the measures taken by the Chinese authorities to ban Internet access ICO projects, according to the Agency, can be circumvented using virtual private networks VPN.