On Jan.12, National Internet Finance Association of China (NIFA) announced a risk warning on its website that IMOs (Initial Miner Offerings), represented by the token WankeCoin issued by Xunlei (NASDAQ: XNET), are ICOs in disguise and have been a potential risk that warrants vigilance.
NIFA claims it a disguised ICO
The warning is in compliance with the Notice on ICO issued by seven ministries last September known as China’s ICO ban, in which ICO activities are suspected of involving in illegal activities as illegal fundraising, illegal issuance of securities and illegal sale of notes and bonds. It warns that all institutions and individuals should immediately stop engaging in ICO activities. With the gradual progress of ICOs’ phasing out nationwide, the newly-emerged Initial Miner Offerings (IMO), represented by Lianke (formerly WankeCoin) issued by Xunlei, have been a risk that warrants vigilance.
http://news.8btc.com/disguised-ico-chinas-regulatory-authority-warn-about-the-risk-of-imo
