{"id":43094,"date":"2025-05-25T10:46:12","date_gmt":"2025-05-25T07:46:12","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=43094"},"modified":"2025-05-25T10:46:12","modified_gmt":"2025-05-25T07:46:12","slug":"china-closes-illegal-financial-sites-and-accounts","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/china-closes-illegal-financial-sites-and-accounts\/","title":{"rendered":"China Closes Illegal Financial Sites and Accounts"},"content":{"rendered":"<p>The Cyberspace Administration of China has started cooperation with financial regulators. On May 24, 2025, it began shutting down financial websites and related social media accounts that were operating illegally. This operation targeted platforms that engaged in misinformation, stock fraud and speculation moves in the cryptocurrency sector.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/china-closes-illegal-financial-sites-and-accounts\/#Financial_Regulation_Move_Comes_From_China\" title=\"Financial Regulation Move Comes From China!\">Financial Regulation Move Comes From China!<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/china-closes-illegal-financial-sites-and-accounts\/#Why_Did_China_Expel_This_Man\" title=\"Why Did China Expel This Man?\">Why Did China Expel This Man?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/china-closes-illegal-financial-sites-and-accounts\/#Strict_Supervision_of_Cryptocurrency_Policy_Continues_in_China\" title=\"Strict Supervision of Cryptocurrency Policy Continues in China\">Strict Supervision of Cryptocurrency Policy Continues in China<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Regulation_Move_Comes_From_China\"><\/span><strong>Financial Regulation Move Comes From China!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>China has closed known platforms such as \u201cLove Stocks APP\u201d and \u201cCaptain Jack Macro Strategy\u201d on the grounds that they spread misleading and speculation-based investment advice. It also accused platforms related to the cryptocurrency market, such as \u2018&#8217;Hou Ge Chats Cryptocurrency\u2019&#8217;, of manipulating users with fake profit screenshots. Overseas-based exchanges such as PKEX and HTX were added to the scope of the operation for providing channels for such transactions.<\/p>\n<p>The Cyberspace Administration of China announced that it has started close monitoring of platforms or social media accounts that aim to mislead and deceive users and will close all accounts involved in such transactions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_Did_China_Expel_This_Man\"><\/span><strong>Why Did China Expel This Man?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In recent years, the Chinese Government has not hesitated to take drastic measures to maintain financial stability and protect investors from fraudsters. It wants to keep investors in a safer environment and protect safe investments, keeping them away from possible speculation or fraud. It continues to do this through the Cyberspace Administration of China. In particular, it aims to combat misinformation in the sector, prevent crypto speculation and ensure security in the financial market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Strict_Supervision_of_Cryptocurrency_Policy_Continues_in_China\"><\/span><strong>Strict Supervision of Cryptocurrency Policy Continues in China<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>China continues its strict controls in the cryptocurrency sector, which it sees as the most suitable environment for speculation and misleading moves. In 2021, cryptocurrency mining and trading were banned in China. However, some platforms continued their activities via VPN and overseas exchanges. With the latest operation, the Chinese government aims to completely close such illegal passageways.<\/p>\n<p>It aims to prevent investors from resorting to unsafe ways and incurring losses in these ways. Especially in the cryptocurrency community, although it adopts blockchain technology, it maintains its strict stance against speculation transactions.<\/p>\n<p>Wang Wei, director of the Cyberspace Administration of China, said:<\/p>\n<blockquote><p>&#8221;This operation demonstrates our commitment to building a healthy digital finance ecosystem. We will not tolerate misleading information and fraud.&#8221;<\/p><\/blockquote>\n<p>in a statement. After this statement, we can see that the Chinese side will resort to new sanctions or ways to protect investors.<\/p>\n<p>These moves made by China can occasionally cause uncertainties in the cryptocurrency sector. For this reason, it is seen as suspicious for Chinese cryptocurrency investors to remain active in the sector in an uncertain environment.<\/p>\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">*DOES NOT CONTAIN INVESTMENT ADVICE*<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cyberspace Administration of China has started cooperation with financial regulators. On May 24, 2025, it began shutting down financial websites and related social media accounts that were operating illegally. This operation targeted platforms that engaged in misinformation, stock fraud and speculation moves in the cryptocurrency sector. Financial Regulation Move Comes From China! China has<\/p>\n","protected":false},"author":33,"featured_media":38028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1205,1211,16379],"class_list":["post-43094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-china-crypto","tag-china-cyberspace-administration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Closes Illegal Financial Sites and Accounts - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/china-closes-illegal-financial-sites-and-accounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Closes Illegal Financial Sites and Accounts - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The Cyberspace Administration of China has started cooperation with financial regulators. 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