PBoC bans ICOs in latest crypto-currency battle

Price of bitcoin falls as China’s central bank takes action against projects that have raised 2.6 billion yuan

pboc building
People’s Bank of China

Unregulated crowdfunding for new crypto-currency projects has been banned by the People’s Bank of China, sending the price of bitcoin tumbling.

In a statement released today (September 4), the Chinese central bank said it had completed its investigation into initial coin offerings (ICOs) and would be taking action against firms.

The price of bitcoin fell by 6.2%, according to Coindesk’s price tracker, on the announcement. Murmurs of the coming enforcement action saw the price of the world’s

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