“Some companies set up servers outside China and promote their products among Chinese investors on social media,” the authority said in the statement. “They usually process transactions via online payment applications, therefore many of these funds are hard to retrieve as they floating abroad.”
Related posts
-
Crypto Friendly Customers Bank Said to Debank Some Digital Asset Hedge Funds
The West Reading, Pennsylvania-based company, which is owned by Customers Bancorp (CUBI), deals only in U.S.... -
SEC Chair Gensler Criticizes Crypto Exchanges, Warns of Delays for Spot Ethereum ETFs – SuperCryptoNews
SEC Chair Gary Gensler raised concerns regarding the ethical practices of cryptocurrency exchanges and indicated that... -
RoaringKitty a GameStop Billionaire by Friday? Crypto Traders Are Placing 50% Odds
A new market on betting application Polymarket has seen over $120,000 placed on Keith Gill making...