China Warns of Cryptocurrency Risks, Vows Continued Regulation
- Says investors shouldn’t confuse crypto with blockchain
- Companies told to take corrective action or exit the business
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China’s central bank told businesses involved with cryptocurrencies to correct any improper actions, and warned investors to be wary of virtual currencies.
Speculation over cryptocurrencies has revived following the recent promotion of blockchain technology, the Shanghai Bureau of the People’s Bank of China said in a statement on its website on Friday.