RATE Group | China Security Regulatory Commission Again Warns Companies Dealing in Cryptocurrency Tra…
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China Security Regulatory Commission Again Warns Companies Dealing in Cryptocurrency Tra…

28 Dec China Security Regulatory Commission Again Warns Companies Dealing in Cryptocurrency Tra…

Posted at 19:09h in Cryptocurrency News by

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The China Security Regulatory Commission (CSRC), an equivalence of the Security and Exchange Commission, has again warned firms trading in cryptocurrency to drop the illegal act, putting it straight that it will go any length in combating illegal digital currency traders.

In a serious warning to traders and companies directly or indirectly involved in crypto trading, the commission says the promotion of virtual currency trading activities has resurged in the country, claiming some trading platforms are offering crypto services to domestic residents.

The letter titled “Risk Tips on Further Preventing “Virtual Currency” Trading Activities” was written by CSRC’s Beijing office on 27 December 2019.

The letter indicates that some virtual currency trading services offered to domestic residents have initiated zero-interest loans, dual currency wealth management, and other projects through digital currency mortgages, which are in serious…

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