China C‐Bank Issues Fresh Warning on Crypto, ICO Risks


Through its Shanghai branch, the People’s Bank of China (PBoC) issued a public warning on Tuesday, reminding investors about the risks associated with cryptocurrency trading and initial coin offerings (ICOs).

“[ICOs are] suspected of illegally selling tokens, illegally issuing securities, illegal criminal activities, financial fraud, pyramid schemes, and other illegal and criminal activities,” says a roughly translated excerpt from the announcement.

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