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The Cybersecurity Administration of China (CAC) said it told major internet platforms to maintain high-intensity crackdown on cryptocurrency speculation, step up rectification regarding information and accounts that lure investors into cryptocurrencies, according to a notice on Tuesday.
Chinese internet platform including Weibo an Baidu have closed about 12,000 accounts and cleaned 51,000 pieces of information that violated rules, it said.
The CAC said it stepped up inspections and closed 989 social media accounts that tried to lure investors to cryptocurrency in the namer of “financial innovation” and “blockchain” and guided local internet regulators to summon more than 500 business entities involved in advertising and marketing for cryptocurrencies.
The CAC will continue to work with other government departments to intensify crackdown on illegal financial activities related by cryptocurrencies and netizens are urged to increase risk prevention and not to engage in cryptocurrency speculation, it said.