Speaking at an internal meeting of the Internet Finance Rectification Working Group on Monday, Pan Gongsheng reiterated that ICOs, “disguised” ICOs and crypto asset trading are illegal in the country, and represent illicit forms of fundraising and securities issuance.
Although China issued an outright ban on ICOs in September 2017, Pan said a lot of the projects that moved overseas as a result are still making themselves available in the Chinese market, according to a report from local business media source Yicai.
The report did not offer details on how the body intends to curb access to foreign ICOs and crypto trading.
In January, Pan notably pushed for wider cryptocurrency trading ban in China according to an internal memo circulated at the time.
In March, however, the platform issued a statement saying that it would monitor threads and ban those who use the platform to solicit investors in ICO tokens.
Solana’s (SOL) price action has entered a critical phase as the asset continues to defend the $131 support zone, one of the most important technical levels on its mid-term chart.
Aster (ASTR) token price is showing early signs of a potential bullish reversal as price action develops a clear double-bottom structure around a major high-time-frame support level.
World Liberty Financial (WLFI), the firm backed by the Trump family, continues to show structural strength as its price action confirms a bullish trend.
Bitcoin (BTC) price is showing early signs of exhaustion after an impulsive rise from the 0.618 value area low. However, the absence of strong volume behind the move casts doubt on the sustainability of a rally.
