The price hit an unprecedented US$3,108, three times the US$985 it was worth early this year.
HONG KONG: China’s central bank said initial coin offerings are illegal and asked all related fund-raising activities to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales.
The People’s Bank of China said on its website that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalising legal violations in ones already completed.
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