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
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
Business /  Banking & Finance

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
Daniel Ren
Daniel Ren

Updated: 11:00pm, 9 Dec, 2018

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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
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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