The National Internet Finance Association of China ponder Taking Action Against ICOs


The self-regulatory group National Internet Finance Association of China in a statement at the end of August 2017 warned its members about the dangers of participating in the Initial Coin Offers (ICO), furthermore the central bank, the China Banking Regulatory Commission, the Securities and Futures Commission, and other regulators held a number of internal meetings and according to some sources Chinese regulators are considering the need to crack down on ICOs, according to regulators many ICOs could violate fundraising laws.

Meanwhile, several local ICO projects seem to be taking precautionary measures, some of which have announced the temporary suspension of fundraising activities due to regulatory uncertainties.

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