China Press: China's virtual coin fundraising ban just the start of tighter regulations

On Tuesday, the Chinese financial news outlet Yicai reported citing sources that China is on track to further tighten rules on virtual/ crypto currencies after regulators on Monday banned virtual coin fundraising schemes, Reuters reports.

According to cryptocurrency analysis website Cryptocompare, in total, $2.32 billion has been raised through ICOs globally, with $2.16 billion of that being raised since the start of 2017.