The Chinese central bank has zero tolerance for bitcoin.


Source: marketcapitalize.com marketcapitalize.com

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The People’s Bank of China (PBOC) heeded the Shenzhen Branch’s warning that cryptocurrencies would be treated with zero tolerance. According to a South China Morning Post (SCMP) report citing state-sponsored news from Shanghai Securities, the PBOC “cleansed” 11 companies in the Shenzhen Region that used the cryptocurrency advisory. However, no information on a solution to the problem has been released by the authorities. Shenzhen is a global hub for computer hardware, including cryptocurrency mining equipment. According to the report, China’s digital token investment community has recently emerged as one of the region’s key foundations. After traders went overboard with their...