RATE Group | Chinese Authorities Bust 8 Companies for Crypto Violations + More News
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Chinese Authorities Bust 8 Companies for Crypto Violations + More News

21 Dec Chinese Authorities Bust 8 Companies for Crypto Violations + More News

Posted at 06:21h in Cryptocurrency News by

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Chinese Authorities Bust 8 Companies for Crypto Violations + More News 101
Source: iStock/XiXinXing

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Regulation news

  • Authorities in Shenzhen, China, have cracked down on eight companies they suspect of conducting illegal crypto-related activities, including two unregistered exchanges. Despite a recent blockchain drive, the Beijing government has repeatedly warned that the measures it enacted in its crypto-crackdown of 2017 remain firmly in place. Per Sina, six companies in the province were accused of attempting to raise funds for tokens. An e-commerce platform that has partnered with a crypto company and a site that provides tokenized rewards for health-related activities were named as offenders.
  • A bill called the ‘Crypto-Currency Act of 2020’ was allegedly introduced in the U.S. House of Representatives, which would provide a sweeping regulatory framework for digital assets…

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