The fallout from China’s ICO ban continue to reverberate across the market as Liechtenstien-based startup Aeternity issues a Termination Agreement in order to fully comply with the new regulatory requirements.

The statement was made in conjunction with the ICO365 platform.

The statement says that the platform has repaid tokens to Aeternity:

“…on September 13th 2017, ICO365 repaid 22.6m AE tokens to æternity, for 7 BTC and 28.3k ETH that ICO365 had previously collected, and the BTC/ETH amount was subsequently returned to ICO365 Users.”

The company says that the returned token will be used for project development as it continues towards its planned mainnet launch in early 2018.

After effects of the ruling

The ruling has thrown the future of ICO365 and four other popular token platforms (such as ICOAGE and ICOINFO) in China into serious doubt. These sites primary focus was to promote and list tokens in return for money or a portion of the offering.

ICOINFO has released a statement that it has voluntarily suspended all planned ICOs in order to comply with the new regulations.

Another platfrom Binance, which claims that over 80% of its users were based outside of China has said that it will begin restricting all Chinese IP addresses from trading.

One platform co-founder told Reuters that they would be shifting their “focus to markets which are not banning ICOs, but rather trying to put in place higher standards and regulatory supervision”.

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