China central bank, the People's Bank of China (PBoC) is going to prevent citizens from participating in initial coin offerings and airdrops, according to the bank’s financial stability report for 2018.
It was also noted in the report that the number of disguised initial coin offerings (ICOs) and airdrops continue to grow in number, despite previous efforts at cracking down on sales of tokens. Thus, during 2018 over 105,000 people from China participated in the sales, providing total funding of about $377.3 million dollars or 2.6 billion yuan.
The People's Bank of China (PBoC) has been taking measures against token fundraising since September 2017, when it outright banned ICOs. In the previous month, it issued a statement urging investors not to take risks trading cryptocurrencies and participating in ICO.
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