Bloomberg China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. The People’s Bank of China (PBOC) said on its website that it had completed investigations into ICOs, and will strictly punish offerings in the future …

Bloomberg UniCredit SpA Chief Executive Officer Jean Pierre Mustier is willing to invest more money in Turkish venture Yapi & Kredi Bankasi AS as he sees the presence in central and eastern Europe as “a growth engine” for Italy’s biggest bank. “ Yapi Kredi is growing and so growth means that there is an organic capital generation,” Mustier told Bloomberg …

Bloomberg The Hong Kong Monetary Authority (HKMA) has asked banks in the city for details of their loans to HNA Group Co. and Dalian Wanda Group Co., according to people familiar with the matter. Lenders were required to submit a survey to the city’s de facto central bank providing information such as total credit extended and outstanding loans to the …