China to Tame Wild West of Cryptocurrency Trading
Cryptocurrency investors and enthusiasts in China have felt the crunch over the past several weeks, following regulators’ crackdown on scams linked to virtual currency-based financing activities.
Last week, China became the first country to ban fundraising in new blockchain-based currency, also known as “initial coin offerings” (ICOs), after the central bank and six regulatory bodies deemed such deals illegal.
As of Thursday, the ban had led to the closure of at least two-thirds of China’s 60 ICO platforms. Regulators have also ordered companies that had raised funds this way to liquidate the proceeds and give refunds to investors.
- 1Renowned Stanford Physicist Shoucheng Zhang Dies at 55
- 2Why Former Australian Leader Believes China is About to Outflank Trump on Trade
- 3China: Meng Wanzhou is a Chinese Citizen
- 4Update: Huawei CFO Arrested for Allegedly Violating U.S. Sanctions on Iran
- 5Arrested Huawei Executive Reportedly Linked to Firm That Once Tried to Sell U.S. Goods to Iran
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas