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 "text": "The People's Republic of China has banned ICOs entirely, including the offering of coins and the exchanges used to trade them, on the view that ICOs hurt the market through potential deception and fraud.",
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 "citation": "Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224",
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