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Cryptocurrency chaos as China bans initial coin offerings

South Korea's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation said on Thursday.


CHINA'S move last week to ban initial coin offerings (ICO) has caused chaos among startups looking to raise money through the novel fund-raising scheme, prompting halts, about-turns and rethinks.

China is cracking down on fund raising through launches of token-based digital...