The wild, wild west of fundraising is coming to an end in China after the PBOC issued a notice which forbids not just ICOs but exchanges facilitating trading of such tokens.
| less than a minute read
China bans ICOs for being full of fraud and pyramid schemes
Get in touch
Get in touch
The decision will likely cause a big ripple in the cryptocurrency community. There are currently dozens of ICOs scheduled to start in September, many of them Chinese, like Wanchain. China's Tron already issued a statement claiming its tokens are "safe" from the new regulation, as the law firm that Tron is working with is a "supporting unit in the drafting of the Chinese 2017 regulation." It's unclear whether the notice above pertains to Hong Kong-based ICOs such as Red Pulse.
Get in touch
Get in touch
