Investing.com - Bitcoin and the other leading cryptocurrencies all sold off sharply on Monday, after China banned individuals and organizations from raising funds through initial coin offerings, saying the practice constituted illegal fundraising. The People’s Bank of China said in a statement earlier that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, the PBOC said, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. It also...