Chinese state media outlet, Voice of China, has published reports criticizing the efforts of Chinese cryptocurrency exchanges and initial coin offerings (ICOs) to continue operations in spite of the central government’s 2017 crackdown.
State Media Criticizes Cryptocurrency Exchanges’ Defiance of CrackdownVoice of China’s reports state that “On September 2017, seven ministries and commissions of the Central Bank issued the ‘Announcement on Preventing the Risk of Issuance of Coinage Offerings’, requiring that any institution not engage in the interaction between legal currency, tokens, and ‘virtual currency’.”
One of the reports states that despite the official ban, companies operating in the cryptocurrency sector sought “to take advantage of the rising tide of rising bitcoin prices,” and alleges that many of China’s cryptocurrency exchange “platforms immediately set up overseas websites and continue to provide digital currency services to mainland users as overseas companies.”
Read more:
https://news.bitcoin.com/chinese-state-media-accuses-icos-exchanges-defying-crackdown/
