China Has Shut 13 Underground Crypto Trading Apps, Here’s More About It | Bitcoinist.com

China has shut down many underground cryptocurrency apps. A total of 13 underground trading applications have shut down after putting a ban on them for almost one year.

As suggested by reports, China, which happens to be the world’s second-largest economy, has called crypto-related transactions illegal.

China regulators have taken down 23 crypto-media websites and 440 online accounts that were promoting cryptocurrencies.

Multiple bank accounts were also banned from providing over-the-counter trading during the intense crackdown. This crackdown was conducted by Beijing Local Financial Supervision and Administration.

This information was provided through a blog post shared by the People’s Court of Chaoyang District via a social media account. Beijing’s wealthiest and largest district