PBoC Advisor: Government Should Mandate ICO Disclosure Standards
Regulators must mandate a standard for information disclosure amidst the recent spate of ICOs, says an advisor to China's central bank.
Regulators should mandate information disclosure standards for initial coin offerings (ICOs), an advisor to China's central bank argued this week.
As part of that process, he argued, "information disclosure requirements and moderate regulation for ICO projects must be introduced", according to the journal.
That said, he also expressed support for an environment that promotes innovation technology uses, with the government making public both the risks and opportunities and involved.
Sheng said in the interview:
His comments come months after the PBoC began to play a more active role in policing the country's digital currency space, a policy shift that led to a months-long withdrawal freeze at several leading China-based exchanges. Withdrawals at those markets were reactivated in late May.
At the same time, the central bank has been investigating the launch of a digital currency of its own. Yao Qian, who works in the PBoC's technology department, recently detailed some of the concepts the bank is exploring.
Image via Shutterstock
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