New rules coming for digital coins

Updated 2017-08-29 13:30:30 Global Times/Agencies

Chinese regulators are preparing new regulations for digital coin offerings and may ban them until the rules are in place, the financial magazine Caixin reported on Monday, as interest in the new fundraising channel grows rapidly.

Digital currencies, also called cryptocurrencies, such as Bitcoin and a growing stream of alternatives, allow anonymous peer-to-peer transactions without the need for banks or central banks.

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