November 15, 2019 China’s central bank has ordered review of cryptocurrency-related businesses in Shanghai.

An official notice, released Friday, mandates that regulators in each of Shanghai’s districts inspect cryptocurrency exchanges and trading firms and report their findings to the People’s Bank of China by November 22nd. The notice was signed by the Shanghai Internet Finance Rectification Agency and the Shanghai Bureau of the People’s Bank of China and verified by Chinese financial news outlet, Caixin. Some speculate this mandate may be in response to heightened cryptocurrency speculation following President Xi Jinping’s recent praise of blockchain technology.