Shenzhen reports a batch of illegal cryptocurrency-related media accounts; multiple accounts have been permanently shut down

PANews, July 23: The People’s Bank of China Shenzhen Branch, the Shenzhen Securities Regulatory Bureau, the Shenzhen Cyberspace Administration, and the municipal local financial administration have continued to carry out in-depth special rectification, urging local websites and platforms to strictly implement their main responsibilities and to deal with a batch of illegal and non-compliant media accounts in accordance with the law and by contract. Some typical cases include accounts such as “USDT merchant group chat,” “Come and play together with virtual coins,” “Soso Bitcoin,” “WeChat Zhi Kuai Huan,” “Zhonglian Lao Jiu,” “Yao Sui Ge Hao Jue,” “Xiao Jin Yu 9884,” and “User0767527971,” among others. These accounts had provided within China marketing and promotional information for virtual-coin-related business activities in violation of regulations, inducing the public to participate in illegal financial activities involving virtual currencies. Pursuant to relevant policy requirements such as the “Notice on Further Preventing and Disposing of Related Risks of Virtual Currencies,” the above accounts have been permanently shut down and dealt with by the platforms in accordance with the law and by contract.