The phrase "illegal issuance" refers to an act of issuing or creating something, like documents or securities, in a way that breaks the law or isn't allowed. It means that this action goes against rules and regulations. Full definition
The Risk Alert Notice referenced a September 2017 notice issued jointly by seven government ministries, which stated, in part, that «ICO activities are suspected of involving illegal criminal activities including illegal fund - raising, illegal issuance of securities, and illegal sale of notes and bonds» and «all institutions and individuals should immediately stop engaging in ICO activities.» (pomerantzlawfirm.com)
«Overseas transactions and regulatory evasion have resumed... risks are still there, fueled by illegal issuance, and even fraud and pyramid selling.» (finder.com)
The report, «Failing governance — Avoiding responsibilities», claims that European biofuel policies have driven reckless oil palm expansion in Ketapang District, West Kalimantan, resulting in illegal issuance of development permits and land conflicts, thereby undermining governance structures. (news.mongabay.com)