Software maker Beijing Qudao Cultural Development Co Ltd was accused of conducting transactions with digitalassets. The regulator has already disabled the organization's website.
Representative Office of the People's Bank of China in Beijingordered the shutdown of software maker Beijing Qudao Cultural Development Co Ltd due to suspicions of cryptocurrency trading, Reuters reported. The authorities ordered the company to cease operations and shut down its website.
Following the announcement of the closure of Beijing Qudao CulturalDevelopment Co Ltd bitcoin fell 3%. As of 13:55 Moscow time, the first cryptocurrency 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-related organizations.
In June, banks and other financial institutionsChina, including payment giant Alipay, has been banned from digital asset transactions. Also, four provinces of the PRC have introduced a complete ban on the mining of cryptocurrencies. 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.
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