A Beijing office of China\u2019s central bank issued an order on Tuesday for Beijing Qudao Cultural Development Co Ltd, a software maker, to suspend its operations over suspicions of being involved in crypto-related trading. According to Reuters, the company\u2019s website had also been shut down, allegedly as part of the People\u2019s Bank of China (PBoC) office\u2019s order.<\/p>\n
The Beijing financial supervision administration and a department of the PBoC already confirmed the matter in a statement issued on local media. In the same press release, the bureau also pointed out that companies based in the city should not be venues for conducting any cryptocurrency-related businesses whatsoever. There were no further details about the order, but the crypto community in social media took the news as another step in China\u2019s renewed crackdown on virtual currency activities.<\/p>\n
Bank Account Alternative. Business Account IBAN.<\/strong><\/p>\n \u201cThe fact that China is trying to stop bitcoin this hard shows how much of a threat $BTC can be to governments,\u201d NFTeddy, a well-known crypto influencer, commented on the news via Twitter. Furthermore, the statement sent by the Chinese authorities in Beijing included crypto-related advertising as part of the banned activities that businesses should not engage in.<\/p>\nCrypto Mining: Another Industry Hit by the Crackdown<\/h2>\n