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China’s internet finance body urges members not to deal in cryptocurrencies

Jonathan Fairfield
in Cryptocurrency News

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China's internet finance body urges members not to deal in cryptocurrencies

 

2017-09-13T165317Z_1_LYNXNPED8C1BT_RTROP

 

SINGAPORE (Reuters) - China's internet finance association on Wednesday urged its members not to take part in any centralised virtual currency trading or provide services involving cryptocurrency trading due to the financial and social risks.

 

China has been cracking down on fundraising through launches of token-based digital currencies, targeting initial coin offerings in a market that has ballooned this year.

 

"We urge all our members to exercise self-regulation and strictly abide by laws by not participating in any centralised trading or provide services for this type of trading," the National Internet Finance Association of China said in a notice on its website www.nifa.org.cn

 

Full story: http://tech.thaivisa.com/chinas-internet-finance-body-urges-members-not-deal-cryptocurrencies/24286/

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