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China has put a halt to Initial Coin Offerings (ICOs) in China. In a recent notice, China declared ICOs to be an illegal fund raising tool and indicated it is reviewing previous ICOs for possible fraudulent practices.
China has put a halt to Initial Coin Offerings (ICOs) in China.
In a recent notice, China declared ICOs to be an illegal fund
raising tool and indicated it is reviewing previous ICOs for
possible fraudulent practices. Money previously raised will also
have to be returned. It is unclear yet whether this will be a
permanent ban or whether China will permit ICOs subject to
regulatory requirements. Chinese companies reportedly have raised
$400 million through ICOs. Stay tuned for further developments.
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