The state will take regulatory measures on the websites of overseas trading platform for virtual currency

Xinhua News Agency, Beijing, February 4 Reporters learned from the People's Bank of China on the 4th that after regulatory halt to the ICO (first tokens issuance), many domestic people turned to overseas platform websites to continue their participation in the virtual currency transaction. Considering that domestic investors turned to offshore platforms Participation in transactions is subject to various risks and a series of regulatory measures will be taken.

The reporter learned from the Central Bank that taking the overseas ICOs involved by some insiders as an example, various risks and problems as stated in the "Notice on Preventing the Financing Risk of Token Issuance" jointly issued by the previous seven ministries still exist, including the illegal issuance of projects Real, fraud and even pyramid schemes, etc., and participate in overseas platform trading, it may be more difficult for investors to recover the losses.

Regulators to remind investors need to recognize the risks associated with offshore ICO and virtual currency trading platform, firmly establish the risk prevention awareness, do not participate in the relevant illegal activities.

The reporter also learned from the central bank that in the next step, the state will adopt a series of regulatory measures including the banning of related commercial presences, the banning and disposal of domestic and foreign virtual currency trading platform websites, etc. so as to prevent financial risks and safeguard financial stability. To shut down one at the same time, the future depending on the situation, nor ruled out the possibility of introducing further regulatory measures.

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