![shutterstock_709205329.jpg](https://steemitimages.com/DQmfXbV3P3CuRneFuq7Mn3RoEmeryky2pwvReG8bAyTQ1s3/shutterstock_709205329.jpg)

A lot of people may have noticed that the NEO price went up quite a bit over the weekend. At the time, there were some reports circulating online involving the Chinese government. After some digging, we found out a few more details about what may be going on behind the scenes.

It is unclear how all of this will play out, though, as no government sources have officially confirmed anything at this point. Nor would they do so, as they have no affiliation with this project. It is no secret that the Chinese government hasn’t taken too kindly to initial coin offerings.

In fact, China is one of the handful of countries where organizing ICOs is essentially banned for the time being. That doesn’t mean this new business model will not be pursued any further, though, as there is still a lot of money waiting to be raised.

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