Central Bank: Close domestic virtual currency trading and token issuance financing platforms

On February 11, the People’s Bank of China released the “China Monetary Policy Implementation Report for the Fourth Quarter of 2021” (hereinafter referred to as the “Report”). The “Report” pointed out that important achievements have been made in preventing and resolving major financial risks. Focus on rectifying financial chaos and severely crack down on financial illegal and criminal activities. Clear out unlicensed Internet asset management institutions, unlicensed payment institutions, equity crowdfunding platforms, and illegal online mutual aid platforms. All P2P online lending platforms have withdrawn from operations. Close domestic virtual currency trading and token issuance financing platforms.

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