December 5, 2023

Media: the Chinese central bank will eradicate the remnants of the crypto industry in the country

Shanghai authorities identify and suppress activity related to crypto trading and token sales by alertingcentral bank and other institutions. It is reported by The Block with reference to the local financial resource Caixin.

Shanghai branch of the People's Bank of China andThe Municipal Bureau of Financial Regulation should complete the audit by November 22. These institutions will pass on information about the identified activity to higher bodies, requiring the respective firms to cease operations.

Recall the other day, the Chinese social network Weiboblocked the official accounts of the Binance and Tron Foundation cryptocurrency exchanges, citing “violation of laws and regulatory requirements, as well as relevant provisions of the Weibo community convention”. It is noteworthy that the accounts of the exchanges Huobi and OKEx are still working.