News Snapshot:
The Shenzhen branch of the People’s Bank of China (PBOC), China’s central bank, has “cleansed” 11 companies for their involvement in suspected illegal cryptocurrency activities as part of a special campaign to show a zero-tolerance attitude to cryptocurrency trading, according to a report by state-run Shanghai Securities News on Tuesday. The newspaper did not provide specifics on how these companies were dealt with. Shenzhen, a global centre for computing hardware including cryptocurrency “mining” equipment , was one of the key bases for China’s digital token investment community. The city’s financial authorities, however, have carried out repeated campaigns to halt anything...
