China Central Bank carried STO to illegal financial activities

The Deputy Head of the People’s Bank of China Pan Gongsheng said that the newly emerged business Security Token Offerings (STO), as well as ICO is illegal financial activities.

During his speech at the Summit in Beijing, Pan Hongsheng stressed that, despite the struggle of government with primary accommodation, this activity continues to flourish in China. According to him, if the authorities did not intervene in the last year, then chaotic crypts could harm the financial stability of the country.

The representative of the NBK also confirmed the position and in relation to cryptocurrency as a whole, saying that they are all connected with all kinds of criminal activities. By adding that most ICOs held in China were suspected of an illegal assembly of funds, financial pyramids and other financial fraud.

In addition to the NBK, the head of the Financial Activities of Huo Xueaven, who recommended everyone who plans to attract funds in this way, not to do this in Beijing, warning that they are expelled.

The opinions of the governments of different countries in relation to cryptocurrency are very much different. While China fights in every way, Switzerland plans