China Bans Crypto-Related Websites

Chinese regulator bans more than 100 crypto-based website

The Cyberspace Administration of China (CAC) restricts 105 websites that were dedicated to virtual digital assets.

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These websites were marketing, publishing and pushing explainers on cross-border currency speculation and crypto mining.

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In their latest announcement, the regulatory said the social media platform Weibo and Baidu have closed 12,000 illegal accounts such as “ICE Blizzard Entertainment Founder” and “Currency Circle Expert.”

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The regulatory body plans to continue cooperating with relevant departments to strengthen the hunt for illegal financial activities related to crypto.

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CAC urges users not to participate in virtual currency trading speculation activities.

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The press release states that these websites have cleaned up over 51,000 units of illegal information, which includes misleading claims such as “invest in Bitcoin to make money easily.”

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However, this is not the first time CAC has tightened its scrutinization of the crypto sector.

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