The People's Bank of China: Trading platforms such as "Bitcoin China" are at risk

CCTV News: The Shanghai headquarters of the People's Bank of China announced the preliminary results of the on-site inspection of "Bitcoin China" on the evening of the 18th. The "Bitcoin China" trading platform has problems such as operating beyond the scope of business, illegally carrying out margin trading, and investors' funds not being deposited by a third party. Institutional and individual investors should pay great attention to the risks of the platform and safeguard their own property safety.

The Beijing Business Management Department of the People's Bank of China also revealed last night that after an on-site inspection of "Bihang" and "Huobi.com", it was initially found that these Bitcoin trading platforms violated regulations in conducting financing and currency lending businesses, causing abnormal market fluctuations; the inspection also found that these platforms had not established and improved relevant anti-money laundering internal control systems in accordance with regulations. It is understood that the inspections by Beijing and Shanghai regulatory authorities, which began on the 11th of this month, are mainly to prevent and resolve market risks such as Bitcoin and Litecoin, and to identify the risks and hidden dangers of related trading platforms.