Beijing Sends Another Warning Over Crypto Trading

A Beijing office of China’s central bank ordered Beijing Qudao Cultural Development Co Ltd, a Beijing-based software maker, to suspend operations, and its website had been deactivated over its suspected involvement in crypto trading, Reuters reported.

The department of the People’s Bank of China also warned that companies in the capital should not provide venues, commercial displays, or advertising for crypto-related businesses.

At 10:46 UTC, bitcoin (BTC) trades at USD 34,008 and is down less than 1% in an hour and 2% in a day. Ethereum (ETH) is almost unchanged in an hour and is down by almost 2% in a day. __

Reactions:

Considering that 99.99% of “crypto-business” is some shitcoin-related crap, the proper headline should be not “Chin… https://t.co/hXVbCRa9JU— Joe007 alerts·groups·funds? Scam! (@J0E007)

the fact that china is trying to stop bitcoin this hard it shows how much of a threat $BTC can be to governments.— NFTeddy (@TeddyCleps)