Beijing tells cryptocurrency exchanges to announce they are no longer trading
Shanghai — Chinese authorities have ordered Beijing-based cryptocurrency exchanges to stop trading and immediately notify users of their closure, signalling a widening crackdown by authorities on the industry to contain financial risks. Exchanges were also told to stop allowing new user registrations as of Friday, according to a government notice. The notice was signed by the Beijing city group in charge of overseeing internet finance risks and circulated online. A government source verified it to Reuters. Platforms should also tell the government by September 20 how they will allow users to make withdrawals in a risk-free manner and handle funds to make sure investor interests are protected, according to the notice, which was also reported by state newspaper Securities Times. "All trading exchanges must by midnight of September 15 publish a notice to make clear when they will stop all cryptocurrency trading and announce a stop to new user registrations," the government notice said....
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