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Media: Chinese Central Bank Will Eradicate The Remnants Of The Crypto Industry In The Country

bank of china

Shanghai authorities identify and suppress activity related to crypto trading and token sales, notifying the central bank and other institutions. 

The Shanghai branch of the People's Bank of China and the Municipal Bureau of Financial Regulation are due to 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 Weibo blocked the official accounts of the cryptocurrency exchange Binance and Tron Foundation, citing “violation of laws and regulatory requirements, as well as relevant provisions of the Weibo community convention”. Note, the accounts of the exchanges Huobi and OKEx are still working.