Back
Shenzhen regulators shut crypto marketing accounts in renewed local crackdown

Shenzhen regulators shut crypto marketing accounts in renewed local crackdown

Authorities in Shenzhen said a joint campaign against illegal online financial information found crypto-related self-media accounts promoting virtual-asset businesses and encouraging participation in prohibited activities.

BTC

Fact Check
The official Shenzhen Internet Information Office government notice (szwljb.sz.gov.cn, dated 2026-07-23) directly confirms permanent closure of accounts promoting virtual-currency services to mainland users, citing the Notice on Further Preventing and Dealing with Risks Related to Virtual Currencies. People's Daily Shenzhen and multiple crypto outlets (PANews, Odaily) independently confirm the PBOC Shenzhen branch was a lead agency in the joint action and that platforms enforced permanent account closures. All material elements of the claim are corroborated by primary government sourcing.
Summary

Shenzhen authorities said they are continuing a special crackdown on virtual-asset activity, with several local regulators targeting online financial information that promotes crypto-related services to mainland users. The Shenzhen branch of the People’s Bank of China, the Shenzhen Securities Regulatory Bureau, the Shenzhen Cyberspace Administration Office, and the Shenzhen Local Financial Administration said multiple self-media accounts, including “搜搜比特币,” were found to have promoted virtual asset-related businesses to users in China and encouraged public participation in illegal financial activities tied to virtual assets. The move underscores China’s continuing enforcement posture toward crypto-related promotion and solicitation, particularly where regulators say such activity can fuel speculative trading or illegal investment recommendations.

Terms & Concepts
  • virtual assets: A regulatory term commonly used for crypto-related tokens and related digital asset activities.
  • self-media accounts: Independently operated online accounts or channels that publish content outside traditional media organizations.
  • illegal investment recommendations: Unlicensed or prohibited advice or solicitation encouraging the public to join financial activities barred by regulators.