What is ICO???
ICO allows start-up companies to increase investment by selling new cryptocurrencies, similar to Bitcoin, in return for cash. However, the People's Bank of China says practices that have been popular around the world, including in China, the ICO is considered an illegal fund-raiser. The ICO scheme, which has grossed US $ 1.6 billion, is said to pose a threat to China's financial industry. Because, many financial institutions and investors are secretly flowing funds illegally into the virtual currency.