PBoC Advisor Backs China’s ICO Ban

CoinDesk reports that Sheng Songcheng, counselor to the PBoC and an adjunct professor of economics and finance at the China Europe International Business School, explained that the Chinese government was right to move ahead with the ban; “In my opinion, these actions are largely aimed at averting risk and protecting investors’ interests while also being an opportunity to further regulate trading of virtual currencies,” as Songcheng writes in Caixin. Source.