On Friday, January 12, the national financial Internet Association of China announced that the IMO (the original proposal for mining) presented a token Bankebi and released by Xunlei, are disguised ICO and become potentially risky model, which requires ongoing monitoring.
Today, NIFA published on its website an announcement about the risks of the new model.
The warning complies with the regulatory Instructions issued by seven ministries in September 2017.
They noted that the original proposal of the coins are suspected of “three illegal items” — collection of funds, issuance of securities and the sale of stocks and bonds. Reported:
“All institutions and individuals must immediately cease to engage in activities related to ICO. After a gradual abandonment of such projects across the country, Initial Miner Offerings, represented by a token Lianke (formerly known as Wankebi), established Xunlei, become potentially dangerous, and requires special vigilance”.
Lies will be discovered
The company’s shares Xunlei after this statement fell by 27%.
The regulator believes that a series of “digital assets”, which was launched in October last year, is a hidden tokens: LLT (literally “road coin”), BFC Points and Lianke.
The latter is considered the brightest example:
“The issuing company actually replaces the currency of the obligation to pay the participants of the project legal tender, and that is essentially considered a financial activity and a form of disguised primary supply of coins. Furthermore, frequent advertising and publications tips for trading Xunlei lured many citizens without explicit recognition an IMO”.