https://www.cnbc.com/2017/08/31/new-cryptocurrencies-and-icos-create-financial-risk-says-chinas-national-internet-finance-association.html

Launches of new digital currencies, known as initial coin offerings (ICOs), have shaken up social and economic order, created hidden financial risks, and in some cases may amount to fraud, China's National Internet Finance Association said.

ICO investors should be wary and report any suspected crimes to police, the state-backed association said in the latest sign of growing official concern about ICOs.