Chinese Regulators Ponder Crackdown on Token Sales – ICOs


According to an exclusive report from financial writer Liu Peng Zhou Chun (刘鹏 周纯) at Tencent Finance, Chinese regulators have held closed door meetings on the current chaos in China concerning ICOs. The central bank, the Securities and Futures Commission, the China Banking Regulatory Commission and other regulators, have held a number of internal meetings, and, according to sources, are brewing up new regulatory measures.

An insider told Tencent Finance, a joint meeting of all regulators and government officials  took place on the morning of August 18, 2017 with the central bank financial market division, the SFC, the CBRC and a number of major divisions and representatives of the China Internet Finance Association.

The source told Liu Peng Zhou Chun that regulators were considering more control over the ICO market, to strengthen information disclosure, close supervision of the raising of digital currencies, and investment risk warnings.

The regulators will even suspend all ICO behavior and rectify if it continues to spiral out of control. Another close to the central bank sources told Tencent Finance that the current regulatory thinking is strictly supervised, “or even one size fits all.”

Article in Chinese here.