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Caixin Reports that ICOs Are Suspected of Illegal Fundraising and the PBOC Bans all ICO Tokens Services

Update: The PBOC announces on its official website this Monday that ICOs are a disguised form of illegal fundraising. And all of the ICO tokens shall stop trading immediately.

Caixin last Saturday released an article with the title of “Caixin Exclusive: ICOs are defined as being suspected of illegal fundraising”. The news quotes an industrial player that:

“ICOs differ from Bitcoin. Bitcoin is an experiment platform for the blockchain technology, while the craze of ICOs will make bitcoin a sacrifice in the great experiment.”

The article goes on to emphasize that the watchdog decides to take legal action very soon.

What amazes me most is that after reading the whole piece, I failed to know whom Caixin interviewed and who has defined ICOs “illegal fundraising”.

Though there are doubts about the authenticity of the article, domestic exchanges and ICO platform services are taking methods to cope with upcoming legislation changes.

BTCChina suspends deposit and withdrawal services of ICO tokens.

ICO token changes its name to Aike (爱科)coin.

Huobi raises transaction fees of eth and etc from 0.1% to 0.2% so as to curb market speculation.

DEx.top, a decentralized exchange platform of Bitmain, released an announcement saying they will be launched on Sep 5th with the first line of

“To begin with, DEx.top is not an ICO project.”

Xiao Miquan, or member-only groups offering investment advice are banned to invite any people in.

Yunbi delists all ICO tokens and indicates it’s going to be permanent.

Jubi stops all ICO tokens and is returning tokens to investors.

ICOAGE, an ICO platform decides to suspend ICO services and offers users to withdraw projects they have invested.

ICOAGE

ICOINFO is negotiating projects completed on the platform to return btc, eth and other cryptocurrencies to investors.

Bizhongchou and Binance is returning eth and btc to users who invest in ICO projects listed on the platform.

The Bytom project is refunding to all BTM holders.

Bitkan announces to delay Shape the Future and holds it in another city. But no more details are released yet.

“We are sorry to inform you, due to the upgrade requirement for public security at Beijing during September for the upcoming19th National Congress, ”Shape the Future” 2017 Global Blockchain Summit” (which was scheduled on 10th September)have to delay and change to another city. The exact date and place will officially inform later on summit official website. If you need refund, please find the ticket channel, refunds will be returned soon. Any further queries, please contact summit@bitkan.com.”

 

According to the CEO of a cryptocurrency platform Da Honghuo, they receive a notice from local authorities to stop trading ICO tokens. And a list of 60 domestic exchanges that are under investigation is widely spread among WeChat groups.

Bter stops trading services concerning ICO tokens, including Qtum and Bytom.

bter

ETCWin suspends deposit and withdrawal services and Hcash plans to acquire ETCwin.

hcash

 

COMMENTS(7)

  • Simple8.1
    3 months ago Simple8.1

    Bter and ETHWin exchanges stop token services. Binance and ICOINFO are returning btc and eth to investors. ICO token changes its name to Aike token. How many exchanges will be shut down?http://news.8btc.com/caixin-reports-that-icos-are-suspected-of-illegal-fundraising-and-the-pboc-bans-all-ico-tokens-services

  • BitcoinAllBot
    3 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • williaminlondon
    3 months ago williaminlondon

    Update: The PBOC announces on its official website this Monday that ICOs are a disguised form of illegal fundraising. And all of the ICO tokens shall stop trading immediately.

    Caixin last Saturday released an article with the title of “Caixin Exclusive: ICOs are defined as being suspected of illegal fundraising”. The news quotes an industrial player that:

    “ICOs differ from Bitcoin. Bitcoin is an experiment platform for the blockchain technology, while the craze of ICOs will make bitcoin a sacrifice in the great experiment.”
    The article goes on to emphasize that the watchdog decides to take legal action very soon.

    What amazes me most is that after reading the whole piece, I failed to know whom Caixin interviewed and who has defined ICOs “illegal fundraising”.

    Though there are doubts about the authenticity of the article, domestic exchanges and ICO platform services are taking methods to cope with upcoming legislation changes.

    BTCChina suspends deposit and withdrawal services of ICO tokens.

    ICO token changes its name to Aike (爱科)coin.

    Huobi raises transaction fees of eth and etc from 0.1% to 0.2% so as to curb market speculation.

    DEx.top, a decentralized exchange platform of Bitmain, released an announcement saying they will be launched on Sep 5th with the first line of

    “To begin with, DEx.top is not an ICO project.”
    Xiao Miquan, or member-only groups offering investment advice are banned to invite any people in.

    Yunbi delists all ICO tokens and indicates it’s going to be permanent.

    Jubi stops all ICO tokens and is returning tokens to investors.

    ICOAGE, an ICO platform decides to suspend ICO services and offers users to withdraw projects they have invested.

    ICOAGE

    ICOINFO is negotiating projects completed on the platform to return btc, eth and other cryptocurrencies to investors.

    Bizhongchou and Binance is returning eth and btc to users who invest in ICO projects listed on the platform.

    The Bytom project is refunding to all BTM holders.

    Bitkan announces to delay Shape the Future and holds it in another city. But no more details are released yet.

    “We are sorry to inform you, due to the upgrade requirement for public security at Beijing during September for the upcoming19th National Congress, ”Shape the Future” 2017 Global Blockchain Summit” (which was scheduled on 10th September)have to delay and change to another city. The exact date and place will officially inform later on summit official website. If you need refund, please find the ticket channel, refunds will be returned soon. Any further queries, please contact summit@bitkan.com.”

    According to the CEO of a cryptocurrency platform Da Honghuo, they receive a notice from local authorities to stop trading ICO tokens. And a list of 60 domestic exchanges that are under investigation is widely spread among WeChat groups.

    Bter stops trading services concerning ICO tokens, including Qtum and Bytom.

    bter

    ETCWin suspends deposit and withdrawal services and Hcash plans to acquire ETCwin.

  • 8btccom
    3 months ago 8btccom

    Qtum, Binance are returning their coins.

  • 8btccom
    3 months ago 8btccom

    Qtum and Binance are returning their coins.

  • 8btccom
    3 months ago 8btccom

    No mainland Chinese can trade on Binance now, only withdraw.

  • -NeverSoft
    3 months ago -NeverSoft

    cuck fhina

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