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