China Central Bank Warns of Cryptocurrency, ICO Risks in Public Notice

The People’s Bank of China (PBoC), the country’s central bank, has issued a public notice urging investors of risks in cryptocurrency trading and initial coin offerings (ICOs).

The Shanghai branch of the PBoC issued a public notice on Tuesday to “remind” consumers and investors to increase their risk awareness of ICOs – a radical form of fundraising powered by cryptocurrencies, urging investors to avoid speculative trading in cryptocurrencies and steer away from overseas operators issuing ICOs.

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