China has banned ICO's "Initial Coin Offering" the way used by crypto's to get revenue like Crowd Funding sort of.

Also they have announced to close major Coin Exchanges by Sept 30th. The haven't actually made it illegal, so waiting to see a clarification on this.

As a result coins, including Bitcoin have dropped massively. Since rumours started circulatin bitcoin has dropped $1000.

Time to buy guys as everything will recover at some point. Maybe not as high...

:-)