Shenzhen authorities shut down multiple crypto-related self-media accounts

Chinese regulators in Shenzhen have identified and shut down multiple self-media accounts for violating rules related to virtual assets, according to China’s People’s Daily. The report said several government bodies, including the Shenzhen branch of the People’s Bank of China, the Shenzhen Securities Regulatory Bureau, the Shenzhen Cyberspace Administration Office, and the Shenzhen Local Financial Administration, recently carried out a joint special crackdown on financial information online. During the operation, authorities found violations by multiple crypto-related self-media accounts, including "搜搜比特币." The accounts were found to have promoted virtual asset-related businesses to users in China and encouraged public participation in illegal financial activities tied to virtual assets. Shenzhen authorities added they plan to keep tightening oversight of online financial information and crack down on activities that fuel virtual asset speculation or involve illegal investment recommendations in order to maintain financial market order.