Five Chinese regulators jointly warn against foreign cryptocurrency investments

China Cryptocurrency
Mark Knowles
Written by Mark Knowles

A joint warning issued by the People’s Bank of China, the Banking Regulatory Commission, the Central Cyberspace Affairs Commission, State Administration for Market Regulation and the Ministry of Public Security takes aim at cryptocurrency projects operators, specifically those who provide investment services for Chinese residents while operating via foreign IP addresses.

“Some of these projects tap celebrities and airdrop ‘candies’ as ways for promotion and solicitation. … In fact, they manipulate the prices of such cryptocurrencies to make profits illegally,” the joint statement reads and warns against “likely fraudulent” overseas investment schemes accessible via domestic brokers.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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