September 18, 2018 / 6:26 AM / 2 years ago

China central bank warns investors of ICOs and virtual currency risks

FILE PHOTO - A cryptocurrency mining computer equipped with cooling fans is displayed at a computer mall in Hong Kong, China May 17, 2018. REUTERS/Bobby Yip/File Photo

BEIJING (Reuters) - China’s central bank Shanghai Head Office said on Tuesday investors should increase risk awareness for initial coin offerings (ICOs) and virtual currency investment and not blindly speculate in the market.

China has taken a string of steps to clamp down on the crypto-currency market, including closing exchanges and banning ICOs in an aim to diffuse online financial risks.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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