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Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal
- Digital currency falls as much as 11 percent, most since July
- China PBOC says all ICOs must be stopped and refunds provided
China Halts Initial Coin Offerings
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Bitcoin tumbled the most since July after China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales.