https://techcrunch.com/2017/09/05/hong-kong-ico-concern/

One day after China’s decision to ban ICOs pending an investigation, Hong Kong — the country that is a special administrative region of China — has voiced concern at the growth of ICO fundraising.

ICOs, which involve the sale of newly issued crypto coins to raise money, are said to have brought in $1.6 billion in funding for companies so far this year, according to crypto industry website CoinDesk’s analytics. A recent Goldman Sachs report estimated that more money was raised in the first half of 2017 by ICOs than early stage VC firms.