China’s Central Bank closes 11 companies suspected of cryptocurrency trading

The Central Branch of the people’s Bank of China in Shenzhen, China’s central bank, announced the closure of 11 companies suspected of involvement in virtual currency trading. Shenzhen Central Bank Province reported the correction and correction of the 11 companies involved.

China’s Shenzhen central bank branch recently launched a special campaign to combat illegal cryptocurrency trading, shutting down 11 companies suspected of carrying out illegal activities in the virtual currency.

Head Of Blockchain (@WuBlockchain), August 17, 2021

By the end of July, a list of 46 companies suspected of being involved in illegal virtual currency trading had been drawn up at the Shenzhen branch of China’s central bank, according to local reports. A special task force of the Shenzhen branch has been set up to identify and fix companies that trade illegal virtual currencies. Partner has completed a correction of a well-known domestic financial website that disrupts the trading of foreign currency deposits. Read the official statement,

“Make a special correction for the illegal trade of virtual currencies and immediately clear and correct 11 new companies suspected of illegal activity in the virtual currency. Completed in the case of a domestic financial site suspected of spreading the valutadeposito breach and known to have properly handled 8 reports of illegal and criminal activity in connection with currency trading and cross-border stock trading.”

Its fight against digital assets is expected to continue in the second half of the year, China’s Central Bank said at a recent conference.

China continues to fight cryptocurrencies
China launched a tough policy on crypto in May to begin with the elimination of bitcoin mining. At the time, China accounted for more than 60% of the combined strength of bitcoin mining, as did most mining farms.

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