‘China Is Shutting Down All of Beijing’s Bitcoin and Cryptocurrency Exchanges’ – Fortune |$3,606.08

Uri Shalev
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Last updated on:
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Chinese authorities have ordered Beijing-based cryptocurrency exchanges to cease trading and immediately notify users of their closure, signaling a widening crackdown by authorities on the industry to contain financial risks.

Exchanges were also told to stop allowing new user registrations as of Friday, according to a government notice signed by the Beijing city group in charge of overseeing internet finance risks that was circulated online and verified by a government source to Reuters.

Platforms should also tell the government by Wednesday Sept. 20 how they will allow users to make withdrawals in a risk-free manner and handle funds to ensure that investors’ interests are protected, according to the notice that was also reported by state newspaper Securities Times

Source

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Uri Shalev
Uri Shalev

Uri Shalev studied Psychology at the University of Haifa. With a keen interest in cryptocurrency and disruptive tech, Uri has a breadth of experience in digital marketing and SEO. Read More

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