In an ongoing onslaught on the once-booming Chinese cryptocurrency industry, China’s Guangzhou Development District government has prohibited all physical venues from hosting digital currency-related promotions or events. Guangzhou Development District, which is one of China’s special economic zones, reportedly issued a circular to all local business on August 24 outlawing them from hosting any crypto-related activities. The new ban is meant to help “maintain the security and stability of the financial system,” the circular read.
If you’re struggling to keep up with the events in China regarding the new moves to totally ban cryptocurrency in the country we can sympathise with you. As it stands, China have very much fallen off the fence and are now going hard against cryptocurrencies. This came with no warning or no real justification, it just seems that authorities in China have decided that crypto will be no more and for the time being, the outlook for the community there is bleak at best.
The Guangzhou Development District, a special economic zone in southern China with a close proximity to Hong Kong, has reportedly banned all promotional events related to cryptocurrency as the country’s crypto crackdown continues. One of China’s earliest special economic zones installed to encourage and foster businesses with less-restrictive laws, the Guangzhou Development District issued a
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