According to People’s Bank of China (PBoC) vice-governor Pan Gongsheng, authorities were right to crack the whip on initial coin offerings (ICOs) and cryptocurrency … Labelling it an ‘illegal’ practice of fundraising, the PBoC said ICO funding had “seriously disrupted the economic and financial order.’.
China was Right to Shut Down Bitcoin Exchanges & ICOs: PBoC Official
Bubbles Never Sleep