China’s Regulator cracks down on illegal cryptocurrency trading 18 August 2021

The Shenzhen branch of the People’s Bank of China (PBOC) has reportedly set out to “correct” the business activities of 11 companies allegedly conducting illegal cryptocurrency activities. According to Chinese media reports, the entities have been targeted in a crackdown on crypto trading in the city, although it is unclear whether the targeted entities have been allowed to continue with their other business activities. The PBOC has reportedly also identified a local financial website accused of illegally advertising foreign exchange cash deposit transactions and investigated eight cases involving illicit online foreign exchange operations and cross-border stock trading.


CH-019170 (Webpage Portal) 2021-08-18 (Published) 2021-08-26 (Updated)