News Snapshot:
The crackdown on cryptocurrencies appears to be gaining steam in China. Local reports state that the Shenzhen branch of the People’s Bank of China (PBOC) has cleansed 11 companies for their illegal cryptocurrency activities. Major Crackdown by Chinese Authorities Chinese news outlet South China Morning Post reported this development on Wednesday, August 18. According to the report, the PBOC prosecuted the companies as part of a special campaign to show a zero-tolerance to cryptocurrency trading. There are no specifics on the severity of punishment meted by the Central Bank. Shenzhen is a global hub for computer hardware development and houses...
