The Guangzhou Development District, an exclusive economic zone in China's Guangzhou district has ordered a clampdown on cryptocurrency promotional events following an earlier move by the capital Beijing, reports The Star Online.
According to the report, the ecozone – established in the 1980s as one of the first special economic zones in the country – said the crackdown was to maintain “the security and stability of the financial system” as it imposed all activities that promote digital currency within the zone.
“The moves – both restricted to the districts in question – are the latest examples of China’s intensifying crackdown on cryptocurrencies, which began last September with bans on crypto exchanges and initial coin offerings,” the South China Morning Post
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