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Li Xiaolai, the legendary Bitcoin investor, has shown his support of the China ICO ban.
Last weekend, seven Chinese financial regulators, including the People’s Bank of China, have published a joint decree, criticizing crypto token sales as “an unauthorized and illegal public distribution of financial tokens, the illegal issuance of securities and illegal fundraising, financial fraud and pyramid scheme.”
Such statement has been seen as the sign of total ban of ICOs in China.
Soon after regulators announcing their decision, several influential Chinese investors have responded with support.
"Li Xiaolai, the legendary Bitcoin investor as well as the co-founder of Yunbi, one of the world’s largest cryptocurrency exchanges, has shown his support verbally and practically."
What’s more, Li then halted all trading of ICOs in Yunbi, including QTUM, GXS, EOS, ANS, DGD, 1ST, GNT, REP, SNT, OMG, PAY, LUN, and VEN.
On his Weibo (Chinese Twitter), he posted that:
- Alex Gao, Guest Author
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