HONG KONG, Jan 16 (Reuters) - The Shenzhen stock exchange
said on Tuesday it would punish companies that speculate on
blockchain technology and mislead investors, following steep
gains in share prices of more than a dozen companies.
The exchange said it had taken supervision measures on 17
companies, including share trade suspensions to review the
causes for unusual share price movements, clarification on
companies' involvement in blockchain technology and potential
impacts on their bottom lines.
The exchange's statement, published on its official Wechat
account, did not name the companies.
Blockchain technology underpins bitcoin and other digital
currencies that have surged in value in recent months, raising
fears of a price bubble.
Chinese regulators have taken a series of steps to clamp
down on financial risks associated with virtual currency trades.
A Chinese central bank official said authorities should ban
centralised trading of virtual currencies as well as individuals
and businesses that provide related services.
Several companies have issued clarifications on their roles
in blockchain technology. Shanghai U9 Game said its
core business does not involve blockchain
Earlier this week, Sichuan Shuangma Cement,
Shenzhen Kaifa Technology and a few others made
(Reporting by Min Zhang and Meg Shen; Editing by Jane Merriman)
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