The People's Bank of China will monitor overseas websites of virtual currency trading platforms. That's to curb risks caused by a rush of investment after the central bank imposed a ban on initial coin offerings. Many Chinese investors have turned to overseas websites to continue cryptocurrency trading after regulators banned ICOs. The PBOC said investors faces such risks as fake projects and fraud when participating in overseas ICOs. It warns it will be harder for investors to recoup their losses. The central bank also said the country will shut down cryptocurrency trading websites to defuse financial risks and maintain financial stability. The PBOC said it may roll out tighter regulations in the near future.