Shenzhen announces a batch of non-compliant self-media accounts involving virtual currency and illegal stock recommendations; multiple accounts permanently closed.

TechFlow news, July 23, according to reports from Shenzhen News Network, the People's Bank of China Shenzhen Branch, Shenzhen Securities Regulatory Bureau, Shenzhen Municipal Internet Information Office, and Shenzhen Municipal Local Financial Administration jointly launched a special rectification campaign, announcing and permanently closing a batch of non-compliant self-media accounts. Violations were mainly divided into two categories: first, accounts such as "USDT Merchant Exchange Group" and "SouSou Bitcoin" illegally provided virtual currency marketing and promotion to the mainland, inducing the public to participate in illegal financial activities; second, accounts such as "Pajama Old Zhang" and "Zhengwu Stock Path" without securities and futures qualifications, through methods such as sharing profit screenshots and publishing real-time trading operations, induced netizens to pay to join groups and purchase financial management courses, illegally conducting securities and futures business. The aforementioned accounts have been permanently closed by the platforms in accordance with the law, and Shenzhen City stated that it will continue to increase efforts to rectify the online environment.