China’s central bank has cracked down on 11 crypto exchanges operating in Shenzhen. The Shenzhen branch of People’s Bank of China has closed down 11 unnamed entities running cryptocurrency exchanges and enabling cross-border stock trading services, Shanghai Securities News reported Tuesday. In the report, PBOC was quoted as saying it “cleaned up” the crypto exchanges, which are considered to be operating illegally in the country. The exchanges were allegedly violating foreign exchange rules and running a crypto service despite a nationwide ban. In a similar incident in July, China’s central bank ordered the closure of a Beijing-based software provider Beijing...