Software maker Beijing Qudao Cultural Development Co Ltd has been charged with digital asset transactions. The regulator has already disabled the organization’s website.
The Representative Office of the People’s Bank of China in Beijing has ordered the closure of software maker Beijing Qudao Cultural Development Co Ltd due to suspicions of cryptocurrency trading, reports Reuters .
The authorities ordered the company to cease operations and shut down its website.
Bitcoin fell 3% after the announcement of the closure of Beijing Qudao Cultural Development Co Lt, the first cryptocurrency (bitcoin) is trading at $ 33.9 thousand. Its capitalization, according to CoinGecko, is $ 636 billion.
The Beijing Financial Conduct Authority and the central bank department noted that Beijing based companies cannot provide advertising services to cryptocurrency trading related organizations.
In June, banks and other financial institutions in China, including payment giant Alipay, were banned from transactions involving digital assets.
Also, four provinces of the PRC have introduced a complete ban on the mining of cryptocurrency. As a result, more than 70% of miners have suspended operations in China.
The work was also stopped by the largest manufacturer of mining equipment – Bitmain.
Ok guys. Seems like the bank deleted the notice only a few minutes after it released. https://t.co/6YrXyVthOm pic.twitter.com/PCbVIQYUru
— 8BTCnews (@btcinchina) June 21, 2021
**Bitmain will help Chinese miners move equipment to other countries
