People’s Bank of China Targets Crypto Businesses in Shenzhen Crackdown – Bitcoin News Regulation


Source: bollyinside.com bollyinside.com

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The branch of China’s central bank in Shenzhen is cracking down on illegal cryptocurrency trading, the Chinese business news outlet Cnstock.com revealed Tuesday. As part of the new campaign, the PBOC has “rectified” 11 companies “suspected of carrying out illegal virtual currency activities,” the report detailed. People’s Bank of China Cracks Down on Coin Trading in Shenzhen It’s unclear whether the targeted entities have been allowed to continue with their other business activities. According to Chinese crypto journalist Colin Wu, also known as ‘Wu Blockchain’ on Twitter, the PBOC has shut down the 11 firms. According to the article, the...