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Is this truly a ban on all ICOs, i.e. the technology? Is there a decent translation of the report at http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/ ?

I don't see why projects such as "useless etherum token" https://uetoken.com/ should be banned.

You may want to ban trading the token to prevent money laundering but that would apply to all crypto coins.

Did they actually do an "ICO" or was it showing as "finished" from the get-go?

Let's find out!

30 seconds later.

So they did but apparently nobody sent them any money, unless they also used some other addresses.

Another 60 seconds after that.

Actually they have a link on the current https://uetoken.com leading to https://etherchain.org/account/0xbe5c1c298d0088886146a906cdf... with 23562 txns total at the moment. Wonder if any of it was legit and if he got any money out of it.

I think he got around $90,000 USD out of it.

Woah :O

250USD as in yesterday.