China's ban on cryptocurrency promotional events now extends beyond Beijing

The moves

Guangzhou’s special economic zone in southern China has banned events promoting cryptocurrencies as the crackdown on digital money extends beyond the country’s capital of Beijing.

The Guangzhou Development District, which was established in the 1980s as one of China’s first special economic zones, issued a notice that banned the hosting of events promoting cryptocurrencies. It cited “maintaining the security and stability of the financial system” as part of the reason.