NIFA warns against Overseas ICOs and Crypto Investments

NIFA warns against Overseas ICOs and Crypto Investments

The National Internet Finance Association (NIFA) had issued a warning to the citizens of China against investing in overseas Initial Coin Offerings (ICO) and Cryptocurrencies. It observed that the investors had been migrating their funds to overseas crypto market since ICOs had been banned and crypto exchanges shut in China. The NIFA issued a public statement and cautioned, “Some overseas ICO and trading platforms may also face the risk of being forcefully closed due to the compliance issue.”

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