November 22, 2019

China: 39 Exchanges Banned

Cryptocurrency exchanges operating illegally in one city in China will face the wrath of a joint government effort to oust them, reports claim.

The operation reportedly involved the participation of the Central Bank of China, the People's Bank of China (PBoC), the Economic Investigation Bureau of the Municipal Public Security Bureau and the Municipal Communications Administration. It remains unknown what consequences the exchanges will face. Most probably China has a desire to curb access to cryptocurrency.

This week, meanwhile, cryptocurrency exchange Binance denied rumors that the police had attacked their office in Shanghai. Shortly afterwards, fellow exchange Bithumb also rejected the idea of closing their outpost in Shanghai, while Huobi explained the same.

"We have heard about this from some media reports. However, we have not yet received any concrete instructions at this stage," said a representative of Huobi.

Binance CEO Changpeng Zhang commented on Shenzhen's move and praised what he saw as an attempt to remove bad actors.

Latest Articles

Economics of Negative Interest Rates

July 28, 2020

Social Consequences of Negative Interest Rates

June 26, 2020

Is Switzerland following in the footsteps of Japan?

June 18, 2020

Webinar on the Effects of Negative Interest Rate Policies

June 17, 2020

Webinar on the Japanification in Europe

June 9, 2020

Deflation and inflation - all at once

May 15, 2020

Swiss Finance Institute’s Webinar on Negative Interest Rates

May 13, 2020

Ultra-loose Monetary Policy and the Japanization of the World

May 7, 2020

Fed Chairman Powell: "We're going places."

April 30, 2020

COVID-19 and the Systemic Challenges of our Financial Order

March 20, 2020
The latest in financial technology.