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China to regulate crypto exchanges as CCP files roles at Houbi – Cryptocurrency News

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Malaki Braydon
Malaki Braydon
Braydon has been into the crypto and blockchain space from the past 7 years. Based in New York City, Braydon has completed his masters from Kingsborough Community College.

The China authorities might soon enter to manage the crypto exchange industry in the nation. As per the reports, the Chinese Communist Party is stepping up to take managerial positions at the Houbi cryptocurrency exchange and plans to take leading financial firms. The country is firmly supporting blockchain and aims to be the leading nation of technology.

The Chinese government is reportedly attempting to direct the cryptocurrency exchange sector undeviatingly. According to the reports by news.Bitcoin.com, Houbi Global and Chinese crypto exchange has become the main pathway of the authorities. The Chinese Communist Party (CCP) has filed to take over the roles of management at the exchange.

“It’s a fact. Already have CCP members take a role as Huobi management,” said the anonymous source. He also informed that the political party is moving to take every leading company in the financial sector, including Alibaba and Tencent.

China is currently making headlines with its ascended and optimistic approach towards the blockchain technology. President Xi Jinping has announced to evolve the nation as the leading blockchain country. Concurrently, the Houbi exchange has also announced the freezing of US citizen accounts following the compliance issues.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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