Warning about risks from IMOs

Advanced Search

The story appears on

Page A10

January 15, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Warning about risks from IMOs

Source: Xinhua | 00:01 UTC+8 January 15, 2018 |

Print Edition

A Chinese industry association has cautioned against risks from the so-called “initial miner offerings,” saying they are disguised digital coin fundraising that has been completely halted in the country.

Investors should be alert to hidden risks of the IMOs, the National Internet Finance Association of China said in a statement on Friday.

Originating in China, the IMOs allow companies to sell mining hardware to generate a particular cryptocurrency or token that can be rewarded to contributors. The model became popular after financial regulators, including the central bank, banned initial coin offerings in September.

The IMOs are “essentially a financing activity and a form of disguised ICO,” NIFA said.

NIFA urged investors not to invest blindly and encouraged individuals to report to regulators or the police on such illegal activities.

Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Warning about risks from IMOs

Email this to your friend