The Shenzhen branch of the People’s Bank of China (PBoC) is taking a hardline approach to cryptocurrency -related activities deemed illegal. According to a report from state-run Shanghai Securities News on Tuesday, the branch has recently “cleaned up and rectified” 11 new companies suspected of engaging in illicit crypto trading. The report did not disclose the companies’ names nor the details of how they were sanctioned. The action against crypto firms was carried out alongside a slew of wide-ranging measures against illicit cross-border trading of foreign currencies and stocks, with one target reportedly being “a well-known domestic financial website that…