China Crypto Crackdown Continues …

39 local exchanges in Shenzhen targeted – Binance CEO says it is a good thing, though – cleaning out the scammers…

“According to local reports, the government of Shenzhen, a major city in the Chinese province of Guangdong, is investigating the operations of local cryptocurrency exchanges. The city’s finance bureau has reportedly identified 39 digital asset exchanges that will undergo on-site inspections.

The Shenzhen division of the People’s Bank of China, the nation’s central bank, will also participate in the probe as regulatory authorities check whether crypto trading platforms are engaging in illegal activities such as money laundering…

Binance CEO Changpeng Zhao calls the probe a positive development as the crypto space matures, expands and continues to attract institutional investors.

‘This is actually a very good thing to happen, cleaning up the industry of scammers and fraudsters.’”

https://dailyhodl.com/2019/11/22/china-crypto-crackdown-continues-authorities-in-shenzhen-target-39-local-bitcoin-exchanges/

Expert Asked on November 22, 2019 in Cryptocurrency.
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