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"Certain regulation is necessary," he said. "But as ICO has been such an efficient way for tech companies to raise funds, I believe it is more likely to be a short-term ban until they can regulate it efficiently."

"China demands that the US keep its promises, rectify its wrongs, refrain from implementing relevant clauses of the bill and stop seeking any official contacts, military ties or arms sales with Taiwan, so as to avoid doing serious harm to the China-US relationship, the ties between the two countries' militaries and the peace and stability across the Taiwan Strait," Wu said.

"But the good thing is that all the sales and payments online leave a digital record," he said.

"By making clear the responsibilities and investigation methods, the supervisory power of the country has been legalized, regulated and institutionalized," he said.

"By singling out China from travel bans, we are, effectively, penalizing it for openly reporting and sharing data about the epidemic. … This could diminish countries' willingness to be transparent about outbreaks and allow diseases to spread before outbreaks are uncovered, which would make everyone less safe."