China’s virtual coin fundraising ban just the start of tighter regulations


The price hit an unprecedented US$3,108, three times the US$985 it was worth early this year.

BEIJING: China is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported citing sources.

China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded since the start of the year.

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Business , Bitcoin , China

   

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