A site featuring cryptocurrency token sales and ICO lists. Before a crackdown by Beijing last year, 80 per cent of the world’s virtual currency transactions and ICO financing took place in mainland China. Photo: AFP

Central bank deputy governor: STO business ‘essentially an illegal financial activity in China’

  • An STO is an initial coin offering backed by tangibles such as assets, or profit or revenue of a company
  • Digital currencies ‘an accomplice to all kinds of illegal and criminal activities’, says official
Topic |   Digital currencies

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A site featuring cryptocurrency token sales and ICO lists. Before a crackdown by Beijing last year, 80 per cent of the world’s virtual currency transactions and ICO financing took place in mainland China. Photo: AFP
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