The People's Bank of China has decided to shut down 11 companies it suspects of crypto trading

Şükriye Akdeniz

Aug 17, 2021

The Shenzhen Central Branch of the People's Bank of China has decided to close 11 companies on suspicion of involvement in virtual currency trading

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A new one has been added to a series of crypto money measures taken in China. The Shenzhen Central Branch of the People's Bank of China has decided to close 11 companies on the grounds that they are involved in virtual currency trading. Shenzhen Central Branch issued a statement to clear 11 related companies.
Local reports have announced that a list of 46 more companies the People's Bank of China is suspected of engaging in illegal currency trading will be released by the end of July. One of the Shenzhen branch's special assignments was to identify companies that were found to be involved in illegal virtual currency trading, then fix them. The Shenzhen branch announced that it had completed its arrangement after it found that a well-known local financial site had violated its foreign exchange deposit trading.
“Special correction on illegal virtual currency trading activities and promptly clean up and fix 11 emerging companies suspected of engaging in illegal virtual currency activities. It also completed the fix of the well-known local finance website suspected of spreading foreign exchange deposit trading violations. Properly addressed 8 reports of illegal and criminal activity related to online currency and cross-border stock trading.”
The People's Bank of China announced at a recent conference that it will continue its pressure on digital assets in the second half of the year.

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