Guangzhou authorities announced the complete closure of cryptocurrency exchange platforms

All cryptocurrency exchange platforms in Guangzhou have ceased operations, financial regulator saidThis is the third largest city in China. Also, online sites offering equity financing, foreign exchange and asset management were cleaned, 8btc writes.

On December 18, the Guangzhou Bureau of Market Regulation announced that it would strictly monitor the work of companies claiming that their activities are somehow connected with the blockchain.

“We must not only promote developmenta new generation of information technologies, such as blockchain, and industries of the digital economy, but also to prevent the illegal registration of market entities conducting illegal activities under the name of blockchain, ”— The publication quotes the regulator's statement.

China stopped todayActivities or have been the subject of police investigation of 11 cryptocurrency exchanges. Two of them - Biger and Bithumb Global - were based in Shanghai. Bithumb Global, according to the publication, plans to liquidate the main unit in China and abandon the services of the local team. All technological and operational activities of the exchange will be transferred to Singapore and Hong Kong.

Recall that last year, the Chinese authorities introduceda ban on crypto industry promotional events in the technical and economic development zone in Guangzhou. These measures were aimed at "maintaining the security and stability of the financial system of the region."

At the same time, in October 2019, shortly afterIn a historic speech, President Xi Jinping on the need to accelerate the implementation of the blockchain in the country, the Guangzhou government announced the allocation of 1 billion yuan (about $ 142 million) to subsidize projects in this area.