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Another High-Profile ICO in China Faces Trouble with the Law

Published 09/12/2019, 03:22 AM
Updated 09/12/2019, 04:41 AM
 Another High-Profile ICO in China Faces Trouble with the Law

GXChain is the next ICO in China that faces the force of the law. The project, which reached a peak market cap of $600 million during the hottest ICO season in 2017, is now investigated, reported Dovery Wan, co-founder of Primitive Crypto.

https://twitter.com/DoveyWan/status/1171778926030417921

Previously, Wan had warned of the debacle of Plus Token, a large-scale scheme that was active on the Asian markets. The recent GXChain investigation follows a series of crackdowns against ICOs, especially in the US. After about a year of free-for-all fundraising, the potential for fraud and personal finance risk alarmed regulators. Some of the projects turned out to be outright scams, also triggering police investigations.

This article appeared first on Cryptovest

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