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Why cryptocurrencies need to be regulated

Tech

Why cryptocurrencies need to be regulated

Nafis Alam Published on Fri, Sep 08, 2017 / 4:45 PM GMT+8

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(Sept 8): Chinese regulators this week dealt a huge blow to the cryptocurrency market after the People’s Bank of China (PBOC) banned initial coin offerings (ICO) and asked all related fundraising activity to be halted immediately.

See: Bitcoin tumbles as PBOC declares initial coin offerings illegal

ICOs had become an easy platform to raise funds through digital tokens. According to Cryptocompare, some US$2.3 billion ($3.1 billion) have already been raised through ICOs so far.

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