On the afternoon of September 4, the People’s Bank of China published a notice on its website stating that recently, domestic financing activities conducted through the issuance of tokens, including initial coin offerings (ICO), have emerged in large numbers, with speculative hype rampant, suspected of engaging in illegal financial activities and seriously disrupting the economic and financial order. To implement the spirit of the National Financial Work Conference, protect the legitimate rights and interests of investors, and prevent and resolve financial risks, in accordance with the Law of the People’s Republic of China on the People’s Bank of China, the Law of the People’s Republic of China on Commercial Banks, the Securities Law of the People’s Republic of China, the Cybersecurity Law of the People’s Republic of China, the Telecommunications Regulations of the People’s Republic of China, the Measures for the Banning of Illegal Financial Institutions and Illegal Financial Business Activities, and other laws and regulations, the relevant matters are hereby announced.
People’s Bank of China notice: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html
Bitcoin saw consecutive sharp declines
