China plans to enact further virtual-currency regulations

in #ethereum • 8 years ago

Financial news publication Yicai reported overnight that, per a source close to decisionmakers, China plans to enact further virtual-currency regulations.

The revelation follows an initial Monday announcement that China had banned the exploding practice of initial coin offerings (ICOs), which entail launching token-based digital currencies for fundraising purposes.

Ethereum tumbled some 20% Monday on the news, according to Coindesk, and Bitcoin also lost ground.

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8 years ago in #ethereum by
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