Beijing Bans Venues from Hosting Crypto Promotion Events

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Shopping malls, hotels, restaurants, and office buildings in downtown Beijing have been ordered not to provide venues for activities that promote cryptocurrencies. A document, first circulated online on Wednesday, indicates that the district government has now banned commercial properties from hosting events relating to “cryptocurrency talks and promotion.” The missive appeared to have been issued on Aug. 17 from the financial service department of Beijing’s Chaoyang district. An official from the department confirmed to CoinDesk on Wednesday that the document is authentic, adding that it was issued due to recent observations of promotional activities hosted in commercial properties. The official did not give further details. Based on the document, however, the financial service department intends the action to protect the financial safety of the public, to strengthen the position of Chinese yuan as the legal currency in China and to stabilize the country’s financial system. “We now order every shopping mall,