China bans companies from raising money through ICO.The document defined initial coin offerings (ICOs) as an unauthorized fundraising tool that may involve financial scams.ICOs have become a primary means of fundraising for projects built on blockchain technology. Companies create and issue digital tokens that can be used to pay for goods and services on their platform or stashed away as an investment. They put out whitepapers describing the platform, software or product they're trying to build, and then people buy those tokens using widely-accepted cryptocurrencies like bitcoin or ethereum.
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