Shenzhen Regulators Close Multiple Illegal Virtual Currency Accounts on July 25

According to BlockBeats, China's Shenzhen financial regulators including the People's Bank of China's local branch, the Securities Regulatory Commission, the Internet Information Office, and the Local Financial Administration jointly announced the closure of multiple social media accounts promoting illegal virtual currency activities on July 25.

The closed accounts included "USDT Merchant Exchange Group," "Play Virtual Currency Together," "Search Bitcoin," "Micro Payment Exchange," and "Central Chain Lao Jiu," among others. These accounts were shut down for unlawfully marketing virtual currency services to domestic users and inducing public participation in illegal financial activities related to cryptocurrencies.