PBOC bans financing from ICO issuance
|The Chinese central bank (PBOC) published a statement on its website, announcing a ban on financing from Initial Coin Offering (ICO) issuance.
Key Points:
Bans banks from coin financing--related business
ICO is illegal
No organizations or individuals allowed in ICO issuance
Those who have already completed ICO fundraising should make arrangements to return funds
All ICO should stop immediately
Warns of risks via ICO issuance
ICO issuance disrupts economic and financial order
Wants to prevent those risks
Will strengthen management of coin financing
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