The People's Bank of China (PBOC) launched on Friday a fresh crackdown on cryptocurrency trading in the financial hub of Shanghai, after Chinese President Xi Jinping's promotion of blockchain technology reignited speculation in virtual currencies.
The move came a day after financial regulators in the technology hub Shenzhen launched a similar campaign. The finance bureau of Shenzhen municipality has identified 39 undisclosed cryptocurrency exchanges for the initiative.
PBOC’s Shanghai branch said in . . .
To continue reading, please subscribe. You will get
- An indispensable and reliable source of information on China's economy and financial markets
- Original and in-depth reporting
- Details, data and perspectives you don't read elsewhere
- THE WIRE - the ONLY real-time financial news platform focused on China, with 24/7 continuous live updates
- Daily Brief newsletters to get you prepared for every trading day
Don't Miss Christmas Offer! Full subscription less than $0.5 a day!
We highly value independence. We are solely funded by subscriptions from thousands of readers like you.
Already have an account? Sign In