China Construction Bank pulls US$3 billion blockchain debt programme amid scrutiny on fintech, financial risks

China Construction Bank (CCB) has decided to pull a
US$3 billion digital bond programme on a blockchain platform,
getting cold feet on the eve of a market breakthrough, amid a
clampdown on technology companies and their financial
innovations.The bank, the world’s second-largest lender, “decided
not to proceed” with the programme without offering an explanation,
Fusang Exchange, a virtual stock exchange for digital initial
offerings, said in a statement on Monday.The Chinese lender’s