From: Coindesk
by Wolfie Zhao
The following is a full translation of statements by China’s financial regulators outlining a recent ban on initial coin offerings.
Recently, a number of token fundraising activities in the country, including initial coin offerings, have emerged for the purposes of financing and speculation. Such [sales] are considered illegal and disruptive to economic and financial stability.
In order to be compliant with the messages conveyed during the National Financial Work Conference, to protect the legal rights of investors and to prevent financial risks, we have the following announcement.
Read Complete Translated Remarks
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