RATE Group | Do Not Engage in Cryptocurrency Activity
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Do Not Engage in Cryptocurrency Activity

28 Dec Do Not Engage in Cryptocurrency Activity

Posted at 12:01h in Cryptocurrency News by

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On December 27th, 2019, a group of government officials in Beijing, China, issued a joint warning against the use of cryptocurrencies. With a new wave of cryptocurrency promotion in China, many entities have begun to use digital assets in a number of ways, which authorities say violate previously issued rules from 2017.

Beijing Officials Warning Against Crypto Activity Explained

Chinese officials based in Beijing are now warning against companies participating in cryptocurrency activity. The authorities have referred back to previous guidance published in 2017, which banned Initial Coin Offerings (ICOs) among other digital asset activity.

Now, the Chinese authorities are claiming that cryptocurrency trading has resurfaced throughout the country. A number of companies have violated the country’s previously issued rules, which it says are still in effect.

The agencies which jointly issued the warning include The Beijing Local Financial…

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