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Trading platforms of digital currency face further checkup

After blocking business of initial coin offering, Chinese regulators may move further to shut down trading platforms of various cyptocurrency, according to media reports today.

After blocking business of initial coin offering, Chinese regulators may move further to shut down trading platforms of various digital currency.

According to a statement by Bitecoin.com, a third-party platform to trade cyptocurrency, Beijing's financial authority held targeted meetings on Tuesday and today, demanding a "comprehensive rectification" over traders.

As a response, the platform has suspended trading of all cyptocurrency, including Bitcoin and Ethereum, starting 5:30pm today.

"To minimize investment risks, we will roll out follow-up measures and hope our investors can cooperate," according to the statement.

Caixin Magazine also quoted people close to the authority, saying that Chinese regulators are considering the shutdown of trading platforms of cypotcurrency, which have become unregulated channels where ventures launder or manipulate money. 

Chinese regulators have blocked business of ICO or Initial Coin Offering earlier this week.


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