Shenzhen Authorities Permanently Close Multiple Self-Media Accounts for Virtual Currency Violations

Joint campaign by Shenzhen regulators results in permanent closure of accounts promoting virtual currency services and illegal financial activities, reinforcing local enforcement against crypto speculation.

Woofun AI reports that the People's Bank of China Shenzhen Branch, alongside the Shenzhen Securities Regulatory Bureau, Municipal Internet Information Office, and Local Financial Supervision Bureau, executed a joint rectification campaign targeting illegal network financial activities. Several self-media accounts, including "USDT Merchant Exchange Group" and "Search Bitcoin", were permanently closed for violating regulations by promoting virtual currency services and enticing participation in illegal financial schemes. Officials confirmed these actions align with the "Notice on Further Preventing and Dealing with Risks Related to Virtual Currencies", with platforms enforcing closures according to law. Authorities stated they will continue strengthening governance over online financial information to maintain market order.