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ICO Refund Issue Emerges as New Cryptocurrency Flashpoint

By Han Yi and Liu Xiao

With refunds for initial coin offerings (ICOs) now underway, how much investors can recover has become the next flashpoint between them and cryptocurrency crowdfunders.

Two weeks after outlawing ICOs, Shanghai authorities on Friday reported that 90% of refunds are complete. But the dust is far from settled. Some investors complained the refund process has been slow, while some took to the street and asked for more money to cover their losses.

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