The China Internet Finance Association (NIFA) warned consumers and investors about the appearance of a new kind of primary coin placement aimed at minimizing the ban on the authorities. This is reported by CoinDesk.
“Our Association urged a huge number of consumers to understand the nature of this model in order to convince them not to follow the speculative trend, rationally invest and realize the risks associated with investment,” the statement said.
At the heart of the “primary mining proposals” is the sale of mining equipment that is tuned for the extraction of a particular cryptocurrency.
NIFA stressed that advertising materials urging to invest in such projects are already actively spreading in the country.
Recall, earlier in China there was a new concept of attraction of means under the name Initial Fork Offering, which is based on hardfork carrying out , most often bitcoin, with preliminary mining for developers.