Also, probably since it's practically impossible to shut down the crypto-world for provided that the internet exists. Regulators can only give attention to places wherever they may have the ability to exercise some control, which appears to be wherever cryptocurrencies match fiat currencies (i.e. the cryptocurrency exchanges).
While cryptocurrencies appear ahead under more scrutiny as time advances, such events do gain some countries like Hong Kong. Considering that the Asian ICO bar, many pioneers of cryptocurrency projects have already been pushed from the mainland to the city. investing in defi Aurelian Menant, CEO of Gatecoin, said that the company obtained "a large number of inquiries from blockchain project pioneers located in the mainland" and that there has been an visible spike in the number of Asian clients joining on the platform.
Seeking somewhat further, companies like Nvidia have stated positivity from the event. They state this ICO bar will only energy their GPU income, since the bar will probably raise the demand for cryptocurrency-related GPUs. With the bar, the only way to obtain cryptocurrencies mined with GPUs is to mine them with computing power. As a result,
people seeking to acquire cryptocurrencies in China now have to acquire more computing power, as opposed to making right purchases via exchanges. In essence, Nvidia's comments is that this isn't a downhill spiral for cryptocurrencies; in fact, different industries can get a boost as well.
