We will crush illegal ICOs says China’s central bank representative

Asia China

The People’s Bank of China (PBoC) will “crush” ICOs and cryptos if they break the law – states a circular by the central bank’s vice governor Pan Gongsheng.

At a meeting of the bank’s Internet Finance Rectification Working Group, Gongsheng said that the bank officials need to “remain vigilant” in their hunt for rogue ICOs and other financial developments that do not meet existing regulatory limitations.

An outright ban on ICOs is in place in China since September 2017.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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