Beijing Bans STOs: The New Update to the ICO

STOs

It seems China really wants to give cryptocurrencies a hard time. The country has always been strict against the blockchain and crypto industry, and now it’s taking that to another level. Beijing has just declared Security Token Offerings, or STOs, illegal.

Beijing Bans STOs

So for those who may be unfamiliar, an STO creates an investment offer by tokenizing stocks or bonds and putting them on a blockchain.

An ICO raises funds for a company by selling tokens to the public. However, an STO gives holders stocks or shares in the company, and the …

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