❌ Chinese tech hub follows Beijing with ban on crypto promotions
According to a news report from National Business Daily yesterday, the finance department of the Guangzhou Development District, a special economic zone, issued a notice to local businesses on Aug. 24, prohibiting them from hosting any crypto-related promotions or events. Citing a similar reason to that offered in Beijing, the agency said the goal of the restriction is to "strengthen the position of Chinese yuan as the legal currency in China and to stabilize the country's financial system."
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