The People’s Bank of China is turning its attention Initial Coin Offerings (ICO), seeking to regulate the new form of crowdfunding.
Although cryptocurrency withdrawals are back on the big three Chinese exchanges, the People’s Bank of China (PBoC) isn’t quite through with the cryptoworld. Now it seems like it’s going after Initial Coin Offerings (ICOs), seeking to regulate the new phenomena in the crowdfunding world. Chinese publication Weixin reports that Yao Qian, head of Digital Currency Research Institute at PBoC, has stated that the PBoC will soon regulate ICOs.