The Presidential Daily Brief

important

  1. bitcoinshutterstock 647109103

    China Bruises Cryptocurrency Markets With Fundraising Ban

    They want more oversight. Chinese regulators have clamped down on individuals and organizations who have been raising money through initial coin offerings (ICOs). The new ban, which saw bitcoin drop by 11.4 percent, also mandates local regulators to check on 60 major platforms known to use ICOs, which are booming globally, and particularly in China. According to state data, there were an estimated 65 Chinese ICOs in the first half of 2017, raising some $394.6 million from 105,000 individuals — suggesting it’s not an avenue that will be closed permanently.

This story is part of The Presidential Daily Brief

view full edition