China Central Bank Claims to Have Closed Majority of Lending Platforms and 173 Cryptocurrency …

China Central Bank Claims to Have Closed Majority of Lending Platforms and 173 Cryptocurrency Entities

Following reports of multiple “rectification” incidents executed against cryptocurrency businesses in China last week, including alleged raids on a Binance office in Beijing, the People’s Bank of China (PBOC) announced November 25th that it has closed two-thirds of the country’s online lending institutions and 173 cryptocurrency entities.