The People’s Bank of China, the central bank of the country, has officially declared initial coin offerings (ICOs) illegal. Upon the completion of its investigation, the institution found that ICOs are in strict violation of China’s existing financial regulations and policies. In the upcoming months, the Chinese government aims to crackdown illegal ICOs and digital token sales.

Read the full article here: https://bitconnect.co/bitcoin-news/709/a-peak-for-the-ico-bubble-china-declares-it-illegal