China’s Central Bank has outlawed all primary emission (ICO) cryptocurrency and ordered financial institutions of the PRC to cease immediately all related activities.
According to the Central Bank, has carried out the investigation showed that the issue of ICO to damage the financial order in the country.
Cryptocurrencies purchased in China are particularly popular because they allow you to circumvent the state-controlled regulators, the traditional financial structure.
News from Beijing led to the collapse of the cryptocurrency market, the total value of which fell by 15% ($28 billion) after a meteoric rise in recent months in 750%.
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