China’s Central Bank Deems ICOs Illegal – Refunds Mandated

The People’s Bank of China (PBOC) has ordered the cessation of all initial coin offerings (ICOs) in China, mandating that active ICOs must return funds to investors. The announcements confirm rumors originating from Chinese media outlet Caixin that the PBOC had decided to initiate a crackdown on initial coin offerings operating in China. Also Read: Chinese…

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