Chinese Financial Commentator Fired Over Crypto Comments: Report

Prominent voices have increasingly become the target of China’s crackdown on crypto.

AccessTimeIconSep 14, 2021 at 1:45 p.m. UTC
Updated May 11, 2023 at 4:34 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Cai Junyi, assistant director and chief market analyst of the Shanghai Securities Research Institute, was dismissed from his post because he was promoting cryptocurrencies, reported China Fund News.

  • One source said that Cai was arrested by police in July, while another source said that he surrendered to the authorities, according to the report.
  • Cai allegedly promoted crypto during a live event, according to the report. But there were other reasons behind his removal, another source said.
  • The police will reveal more information soon, according to the report.
  • China’s financial regulators banned crypto exchanges and initial coin offerings in 2017 and have been cracking down more intensely on the industry, especially crypto mining, since May.
  • Cai was a prominent financial commentator in print and on TV. Shanghai Securities is a brokerage founded in 2001 and has registered capital of RMB 2.6 billion ($400 million), according to company data platform Aiqicha.
  • In July, crypto news source CoinWorld announced it was shutting down, saying it was following cryptocurrency provisions issued by the Business Administration Department of the People’s Bank of China.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about