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Several state-owned Chinese media reported since the Chinese ICO market, is out of control, citing comparison to the overall economy, was picking up speed.
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Crypto ICO Scam 2018 China - BustedThis definition of the legal status of cryptocurrencies is consistent with the PBOC's circular that banned initial coin offerings (ICOs). BTCC, a Shanghai-based bitcoin exchange platform, said it halted trading of ICOCOIN over the weekend. Its CEO, Bobby Lee, told CNBC in July that. Chinese regulators have launched a crackdown on individuals and firms raising funds by offering their own digital currencies.
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