Shenzhen Regulators Close Multiple Illegal Crypto-Related Social Media Accounts on July 23

Chinese regulators, including the People's Bank of China Shenzhen Branch and the Shenzhen Securities Regulatory Bureau, shut down multiple self-media accounts on July 23 for illegal cryptocurrency-related violations. The closed accounts had been illegally providing cryptocurrency business marketing and promotional information to domestic users, promoting non-compliant financial activities. The platforms permanently removed the accounts in accordance with regulatory requirements and policies on virtual currency risk prevention.
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