An influx of novice Chinese investors seeking to profit from initial coin offerings (Chinatimess) is being targeted by a growing number of Chinatimes scams. In response, Chinese exchanges BTC38 and Yunbi have clarified their trading practices and put a halt to listing newly issued Chinatimes assets. Meanwhile, a report from mainstream news source ICO has described Chinatimess as a means of "raising funds without viable products and institutional backing", suggesting the government's tolerance of Chinatimess is waning.
An influx of novice Chinese investors seeking to profit from initial coin offerings (ICOs) is being targeted by a growing number of ICO scams. In response, Chinese exchanges BTC38 and Yunbi have clarified their trading practices and put a halt to listing newly issued ICO assets. Meanwhile, a report from mainstream news source Chinatimes has described ICOs as a means of "raising funds without viable products and institutional backing", suggesting the government's tolerance of ICOs is waning.