Beijing BISS has suspended operations at the request of the authorities. Police arrested more than 10 employees.
According to Dovi Wang, managing partner at Primitive Ventures, this happened three weeks ago. Those involved are likely to be charged with fraud.
Earlier, the People's Bank of China revealed 39 bitcoin exchanges in the city of Shenzhen. In parallel, the Shanghai regulator published measures to combat cryptocurrency trading.
After the statement by Chairman XiJinping on the importance of blockchain inspired cryptocurrency holders, the Chinese government decided to stop any activity related to tokens or trading in digital currencies.