Chinese Blockchain Association Issues Protocol to Regulate ICOs
Chinese blockchain companies have released a joint protocol designed to manage financial risks for initial coin offerings (ICOs) in China.
The joint protocol, ‘Guiyang Blockchain ICO Consensus’, was proposed by Guizhou Blockchain Industry Technology Innovation Alliance, Zhongguancun Blockchain Industry Alliance, Blockchain Finance Association, Guiyang Blockchain Innovation Research Institute and two other unnamed entities, according to a report from the China Money Network.
There are currently 43 platforms in China that provide ICOs. The most, of which, are located in Guangdong, Shanghai and Beijing, which account for more than 60 percent of the total number of platforms.