China’s Restrictions on ICOs Continues

China’s Restrictions on ICOs

In an attempt to control the cryptocurrency market and monitor the overseas websites of virtual currency trading platforms, China is preparing new regulations to limit the ICOs, especially through overseas platforms.

People’s Bank of China (PBOC) confirmed that they and other regulators are in process of preparing new regulations and taking stricter measures to prevent the initial coin offerings. Without giving any detailed explanation or providing further information on the matter, the PBOC just said that those measures will be implemented when it will be necessary.

Lastly, the Monday’s fall of more than 10% of the bitcoin, raised more concerns regarding the digital coins trading.