The 19th national Congress of the chinese communist Party will take place on 18 October. There will be elections for the party leadership, which could lead to changes within the government. Especially as five of the seven members of the Politburo, the main governing body of the chinese government, will retire and will need replacing. Xi Jinping is likely to retain his seat as secretary-general, but the general composition of the government could well change radically. These changes could thus lead to a modification of the monetary policy.
Nothing is sure, but one can be optimistic
There is no guarantee that the constitution of a new government will lead to the lifting of the ban of the ICO (raised funds in crypto-currencies). But according to Forbes, since there could be political reasons for this restriction, a change of government could change this situation. We are all the more optimistic that there has already been a similar situation, where a decision taken at the 17th Congress has been cancelled in the wake of the elections that took place during the 18th Congress. If it is true that a currency is decentralized, could create havoc within china’s economic structure that is highly centralized, the current size of the economy of Bitcoin is so low that the threat is not really a reality, but rather a simple perception.
The lifting expected will it be too late ?
Therefore, the ban may have been a political strategy to position itself in view of the elections at the next convention of the chinese communist Party. Thus, it is perfectly legitimate to think that the prohibition of the ICO is not a real financial decision-making motivated. If this is the case, the ban will be null and void after these elections and could well be thrown. However, the main actors in the domain of the ICO, may have already fled the country to other safe environments, because the damage caused may be too great to be reversed.