News Snapshot:
China’s internet regulator, the Cyberspace Administration of China (CAC) vowed on Tuesday to clean up what it sees as bad and blatantly misleading marketing of virtual currencies. Beijing has repeatedly declared that using and mining virtual currencies are illegal in the Middle Kingdom, making related activity suspect from the get-go. But that hasn’t stopped some from trying to encourage Chinese netizens to invest. “Some netizens are confused by false propaganda such as high returns on investment in virtual currency, and blindly participate in related trading activities, which brings damages and big losses of property,” the CAC said (in Chinese). The...
