After crypto-banning, the Chinese ICOs are holding in underground way.
According to CryptoCartel, in China the underground ICOs are holding. As you know, Chinese government has banned foreign crypto-exchanges, as well as ICOs holding.
Organizers of the Chinese ICO have found several ways to circumvent the current ban. The most popular method to bypass the ban is to place ICO on foreign platforms, and to distribute the tokens within the Ethereum network.
It is worthwhile noting that the highest increase of demand for ICO took place in Asia. In addition, Asian countries are very successful in mining. Chinese crypto-investors had great plans concerning cryptos, however, the Chinese government forced to change their plans, fighting cryptocurrencies. China introduced a complete ban on cryptocurrencies and ICO. The South Korea attempted do the same, but faced strong public opposition.
Now the Chinese authorities are reviewing their policy regarding crypto-industry. On the one hand, the state is fighting with crypto-exchanges, blocking websites by IP addresses. On the other hand, the authorities understand the losing of huge profits, and therefore China is going to develop rules to regulate the cryptocurrency market at the state level.