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1024x683 In China arbitrage

China to Ban Distribution of Free Tokens

The People’s Bank of China (NBK), the country's central bank, is developing methods that can prevent the holding of airdrops in the country.
NBK specialists concluded that after the ban of ICO projects in the state, the volume of digital assets placed, including through bounty, is growing.
Analysts believe that most organizations transfer their activities abroad, and Chinese citizens can invest in such enterprises using special agents.
A number of firms do not sell crypto currency for money, but launch airdrops. In the future, they use their stock of tokens to manipulate the course on trading floors in order to earn on assets.
The document prepared by the specialists indicated that until July 18, 2017, 65 ICO procedures were carried out in the PRC. More than 105,000 people took part in placing crypto currency, and the volume of invested funds exceeded 2.6 billion yuan ($ 377 million). At the same time, almost 20% of this amount was collected thanks to foreign investors.
Researchers at the NBK recalled that their company interacts with a variety of government departments and organizations in order to control the digital asset market and ensure the safety of investors.
A year ago, Halyk Bank banned any activity related to the primary distribution of coins, declaring it illegal. In September 2017, the regulator suspended the work of all crypto currency sites in the country.