ICO Site Suspends Services Amid Reports of Regulator Scrutiny

China's initial coin festival (IOC) has suspended its services as a platform for investment because government officials have started closely monitoring financing models.

IOCINFO, in a notice posted on its website, referred to "a modified regulatory environment" in deciding to erase its platform. Users can submit money to listed listed tokens. The complete sale of the site can be seen that ICOINFO accepts Bitcoin, ethereum and eos.

Notice has been read:

"Due to the regulatory environment of a change, and to minimize the risks of supporters and project owners, ICOINFO has voluntarily suspended all ICO-related functionality at the site. Once we get clearance from the relevant department, we will start the business according to their specifications and policies."

The message further said that the withdrawal and deactivation function will be deactivated, but will be brought back online on September 5.

"Users have participated in successful Icons who will be able to get their tokens planned according to project owners' schedules and whenever project owners can transfer tokens," the site wrote. "Effectiveness of withdrawal will start at 10am on 10 September [5], according to plan, and at that time users will be able to withdraw funds from IOCINFFO."

This is the first indication that the signs of potential obstacles to the growth of Ikogo in China are affecting the local ecosystem.

CoinDesk reported last week that after the release of new fundraising rules, officials can strengthen the focus on domestic ICO after the Chinese media reported that in mid-August a group of regulators with China's People's Bank discussed the possible steps for the control of ICO, in which the unit The amount of money raised through token sales is limited. .