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China Doubles Down on ICO Ban By Issuing Additional Warning About Crypto Fundraising ‘Frauds’

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Fri, 24/08/2018 - 16:08
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China Doubles Down on ICO Ban By Issuing Additional Warning About Crypto Fundraising ‘Frauds’
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China is on a roll with its anti-crypto policies this week– after blocking a slew of offshore exchanges and prohibiting crypto-related events, the country has also issued an official warning about ICOs. The warning, published in the form of a joint statement endorsed by six government agencies, blasts coin offerings as ‘illegal,’ comparing them to financial pyramids. Chinese officials claim that it is extremely hard to track ICO-related funds  since coin issuers usually operate from abroad. 

While China’s clampdown on cryptocurrencies continues, the country’s court struggles to rule on a rising number of crypto-related disputes
 

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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