- CAC shuts down accounts promoting cryptocurrency speculation.
- Enforcement action impacts Chinese crypto influencers.
- China continues its regulatory oversight of digital finance.
The Cyberspace Administration of China (CAC) has intensified its crackdown on online financial activities,
particularly targeting cryptocurrency speculation, by shutting down numerous social media accounts across
the country as of May 2025.
Regulatory Measures
The Cyberspace
Administration of China (CAC), acting with financial regulators, has taken decisive action to rectify
chaos in online financial information. By shutting down social media accounts involved in cryptocurrency speculation, they aim to protect users from
misleading information.
“The public should invest wisely, stay alert to risks, avoid spreading rumours, and steer clear of
illegal financial activities,” vowed the CAC, indicating continued clean-up efforts.
— Cyberspace
Administration of China, Principal Internet Watchdog
This enforcement
targets accounts that promote speculative trading activities, largely affecting users of large-cap
cryptocurrencies. Such actions impact online influencers, curtailing their ability to reach audiences with
speculative content.
This regulatory measure signifies a pushback against OTC
markets and peer-to-peer forums, where speculation often thrives. It also aligns with previous crackdowns, which showed a reduction in visible trading and a shift
of discussions to encrypted channels.
Potential outcomes could include increased caution among investors and a tightening of enforcement in digital
financial spaces. Historical precedents suggest a drop in trading volumes and migrated discussions to less
observable platforms.
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