2022 RT Banner.gif

China Daily

News> Nation> Content
Published: 15:52, August 09, 2022 | Updated: 15:53, August 09, 2022
China intensifies crackdown on cryptocurrency hype, speculation
By Xinhua
Published:15:52, August 09, 2022 Updated:15:53, August 09, 2022 By Xinhua

This May 08, 2022 illustration picture taken in London on May 8, 2022 shows gold plated souvenir cryptocurrency Tether, Bitcoin and Etherium coins arranged beside a screen displaying a trading chart. (JUSTIN TALLIS / AFP)

BEIJING - China's internet watchdog on Tuesday said it had intensified a crackdown on illegal online information that may lead to speculation and fraud involving cryptocurrency.

While urging leading online platforms to fulfill their responsibilities in presenting content, the administration shut down 989 accounts on Weibo, WeChat and Baidu's online community service, which misled internet users to invest in cryptocurrency, as well as virtual or digital assets

The move since earlier this year was aimed at protecting people's property, according to the Cyberspace Administration of China.

ALSO READ: Effective regulations for cryptocurrency needed in Hong Kong

While urging leading online platforms to fulfill their responsibilities in presenting content, the administration shut down 989 accounts on Weibo, WeChat and Baidu's online community service, which misled internet users to invest in cryptocurrency, as well as virtual or digital assets.

The administration, in joint efforts with other competent authorities, also closed 105 websites hyping cryptocurrency or releasing information concerning cross-border speculation on and mining of cryptocurrency.

ALSO READ: Bitcoin stems losses, pessimism reigns in crypto markets

While pledging continuous efforts to curb illegal activities involving digital currency, the administration also cautioned internet users against cryptocurrency speculation. 


Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !