Chinese Regulators Crack Down on Cryptocurrency Promotion and Illegal Securities Accounts on July 25

According to Shenzhen News Network, Chinese regulators including the People's Bank of China Shenzhen branch, China Securities Regulatory Commission Shenzhen office, and the Shenzhen Internet Information Office launched a joint enforcement action on July 25 to remove unauthorized social media accounts. The targeted accounts engaged in two types of violations: promoting virtual currency trading and investment schemes that induce public participation in illegal cryptocurrency activities, and conducting unlicensed securities business by posting profit screenshots, encouraging users to join paid groups, and selling trading courses.
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