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Repeal the Ban on ICOs in China and South Korea

This petition had 4,149 supporters

This Initiative wholeheartedly agrees and supports that guidelines should be in place around ICOs to protect investors and markets, however an outright ban by regulatory bodies stifles technology innovation, inhibits economic growth, and limits opportunity in what could very well be the biggest advancement in technology since the birth of the internet.

With this as the basis of our petition, we ask for your support requesting that The People's Public Bank of China & Financial Services Commission of Korea reverse their draconian bans on ICOs as a funding mechanism for blockchain initiatives immediately.

We provide these further points in support:

  • This wave of innovation will inevitably give birth to the next Google or Amazon, and those advancements will be born from other countries if China and South Korea sit out, effectively blocking inventors, investors, and entrepreneurs, from building value for your nations.
  • Many nations look to China and South Korea for leadership, what's done in these countries could be mirrored by others blindly casting a negative tone on critical technological innovations.

  • The ban represents a huge loss for the world economy, in general, as it unfairly discredits cryptocurrency and blockchain technologies and inhibits its global growth and benefit of everyone on the globe.

Ultimately, this ban should be reversed immediately, so other regulatory bodies do not blindly follow, slowing the progression or possibly causing us to miss out on what is promising to be the next internet.

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