Beijing financial regulator calls security tokens illegal

The head of the Beijing Municipal Finance Bureau, Ho Xuewen, said that in the capital’s jurisdiction, proposals for security tokens are outlawed, reports CoinDesk, citing local sources.

“I want to warn those who promote or release security tokens in Beijing. I advise you to participate in such campaigns only if the government legalizes it, ”Xuewen stressed.

Recall that in early September 2017, the People’s Bank of China banned an ICO. Also, the ministry is considering the possibility of banning cryptocurrency eidropes.

Nevertheless, the South China branch of the China International Economic and Trade Arbitration Commission in Shenzhen decided that the Chinese state should protect the rights of citizens to own Bitcoin.

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