@weirdheadaches shared this link: https://www.google.com/amp/s/techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/amp/

Personally, I'm ok with this because since June to now, I've received a lot of analysis requests of recently bought ICOs that were clearly pump and dump scams. I've often been disgusted. Many of their White Papers were copy pastes with little originality. On one White Paper (I won't mention which), I can only say that it was both good and original. It's just that what was original wasn't very good and what was good wasn't very original!

Also, many well known YouTube crypto personalities were shilling for these ICOs and shamelessly taking payments for it. Not cool!

In this light, I see China as having the wisdom to try and de-risk the cryptoshere of scams. But, this too interrupts the natural order of cryptos. In my opinion, Crypto currency needs no regulation. These scam ICOs would have disappeared on their own if no values were realized by the holders. The natural evolutionary process for the survival of the fittest needs to play out and thus artificial intervention not required.

Dear God, I wonder what the SEC will attempt next.

Don't forget, the Governments have significant ability to try and regulate Bitcoin and Altcoins. Perhaps, once Wave IV bottom is reached and Bitcoin surges to new higher highs on Wave V and then MASSIVELY corrects, the agent of cause or event might be concerted governmental efforts to regulate cryptocurrency. This perhaps could be equivalent to an extinction event for many cryptos! A true survival of the fittest will take place! For this reason, I will be taking closer look to load up on Monero and ZEC for subterfuge holdings. But, that time has not yet arrived as we first need to complete the Wave III top and correct to wave IV and joy ride Wave V up. Once Wave V matures, I will post on the need for true anonymity.

As always, I wish you all MASSIVE profits!

@haejin