Red Pulse is slated to be the first ICO that will use NEO to fund itself. Today, it announced that due to stricter ICO regulations, the Chinese citizens will not be allowed to take part in the Red Pulse ICO. Being the first ICO to use Neo, it means no skyrocketing of Neo like Ethereum this year. This is extremely bad for the Neo that was meant as the launchpad for ICOs. Ethereum is often used for funding the ICOs and this was massive chance for Neo to prove itself and replace Ethereum for funding.