(Global Times) China’s central bank in Shenzhen branch is targeting 11 new companies which it suspects are engaging in illegal cryptocurrency activities.
The Shenzhen branch identified a domestic financial website that was suspiciously advertising foreign exchange cash deposit transactions.
The bank has put on scrutiny eight reported cases that involve speculations on online foreign currency and cross-border stock trading.
The bank is also launching a sensitization program to educate consumers to avoid being duped or fall foul of financial regulations.
The Shenzhen’s branch has also organized door-to-door services targeting at least 3,000 companies to sensitize them about managing foreign currency concerns.
The bank’s move reflects the wider crypto crackdown by China, having initially targeted mining companies in the country.
BTCUSD is up +1.34%, ETHUSD is up +3.02%.
