China tightens oversight on platforms spreading financial misinformation

BEIJING -- China's cyberspace regulator, in collaboration with financial regulators, has recently targeted and shut down a series of accounts and websites spreading false information about capital markets, promoting illegal stock recommendations, and fueling hype around cryptocurrency transactions.

Some of the targeted accounts were also found to be disseminating content related to illicit or semi-illicit activities within the financial sector, the Cyberspace Administration of China said on Saturday.

The administration added that it would maintain its tough stance against such activities, urging internet users to remain vigilant against potential risks, and verify financial information carefully.

It also cautioned the public against spreading or believing rumors, and urged people to steer clear of unlawful financial schemes to avoid potential losses or breaches of personal data.