ICOage, a popular chinese ICO platform that hosted projects such as Delphy and Indorse has suspended its operations today. ICOage is backed by famous cryptocurrency investor Li XiaoLai. XiaoLai also has ties to OKex and other cryptocurrency exchanges. All upcoming ICOs has been temporarily suspended, and this following notice was placed on their website:
China’s cryptocurrency Exchange Ban
The closure of ICOage is seen as part of a wide scale operation to ban cryptocurrency exchanges in china.
This suspension is voluntary and doesn’t affect the ICOs that have already been completed – the will continue as normal and contributors will be able to collect their tokens. However, upcoming ICOs have all been removed and they are no longer accepting any ICO applications. This is the second ICO platform to suspend its operations, the first being ICOINFO. Currently, it is unknown the duration of this suspension.