At a press conference of the State Council Information Office, Li Bin, deputy director of the State Administration of Foreign Exchange, said that the State Administration of Foreign Exchange will strengthen oversight of the foreign exchange market and severely crack down on foreign exchange-related illegal and违规 activities such as underground money houses.

In the first half of this year, more than 300 related cases were investigated and handled, with fines and confiscation totaling over 400 million yuan, effectively safeguarding the orderly operation of the foreign exchange market.

Sources: Binance