Chinese Ecozone Clamps Down Crypto Promotional Events

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

This article appeared first on Cryptovest

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