On September 4, 2017, seven ministries and commissions of the central government halted ICO activities. On that day, the Bitcoin closing price was $4,100, and it fell to $2,817 on September 15, 2017. On September 4, 2017, as many as seven Chinese official departments issued the "Announcement on Preventing Risks of Token Issuance Financing," halting ICOs and classifying them as illegal financial activities. All domestic virtual money trading platforms were ordered to close within a specified period and stop new user sign-ups.
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History Today: It has been 8 years since the Chinese government officially halted ICOs on "September 4th."
On September 4, 2017, seven ministries and commissions of the central government halted ICO activities. On that day, the Bitcoin closing price was $4,100, and it fell to $2,817 on September 15, 2017. On September 4, 2017, as many as seven Chinese official departments issued the "Announcement on Preventing Risks of Token Issuance Financing," halting ICOs and classifying them as illegal financial activities. All domestic virtual money trading platforms were ordered to close within a specified period and stop new user sign-ups.