After it banned initial coin offerings in the middle of 2017, it seems that China isn’t going to give security token offerings a chance to exist in the first place.
Before the phenomenon even got its feet wet in the country, deputy governor Pan Gongsheng of the People’s Bank of China addressed the sale of security tokens explicitly during a speech at a Beijing digital finance forum, the South China Morning Post reports.
Pan deliberately used the word “illegal” in his statement, referring to the pervasive ICO and STO fundraising that occurs in the country despite the government’s best efforts to do away with this trend...
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