{"id":9208,"date":"2021-07-07T03:54:16","date_gmt":"2021-07-07T03:54:16","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/china-shuts-down-software-maker-over-suspected-crypto-related-activity-issues-industry-wide-warning\/"},"modified":"2021-07-07T03:54:16","modified_gmt":"2021-07-07T03:54:16","slug":"china-shuts-down-software-maker-over-suspected-crypto-related-activity-issues-industry-wide-warning","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/china-shuts-down-software-maker-over-suspected-crypto-related-activity-issues-industry-wide-warning\/","title":{"rendered":"China Shuts Down Software Maker Over Suspected Crypto-Related Activity, Issues Industry-Wide Warning"},"content":{"rendered":"<p><strong>The People\u2019s Bank of China (PBOC), the country\u2019s central bank, has shut down a software firm over suspected involvement in cryptocurrency transactions. The central bank also warned organizations not to \u201cprovide premises, commercial display, advertising \u2026 and other services for cryptocurrency-related business activities.\u201d<\/strong><\/p>\n<p>China\u2019s central bank warned companies on Tuesday against assisting cryptocurrency-related businesses as it shut down a software firm over suspected involvement in crypto transactions, AFP reported.<br \/>\nThe Beijing office of China\u2019s central bank ordered the closure of a software firm called Beijing Qudao Cultural Development. The central bank alleged that the company had been involved in providing software services for cryptocurrency transactions.<br \/>\nThe central bank claims that the shutdown was necessary \u201cto prevent and control the risk of speculation in virtual currency transactions, and protect the safety of the public\u2019s assets.\u201d<br \/>\nThe bank also warned organizations not to \u201cprovide premises, commercial display, advertising \u2026 and other services for cryptocurrency-related business activities.\u201d<\/p>\n<p><!-- growjs zone placement 31 -->   <!-- end of growjs zone placement --> <\/p>\n<p>The PBOC recently instructed financial and payment institutions not to provide cryptocurrency-related services to customers.<br \/>\nThe announcement came shortly after provinces in China, including Sichuan, Inner Mongolia, and Qinghai, shut down cryptocurrency mining farms, causing miners to move their operations abroad.<\/p>\n<p><em><strong>What do you think about China shutting down a software firm over suspected involvement in crypto transactions? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, beijing notice, beijing pboc, beijing qudao cultural development, China, China crackdown, chinese crackdown, crypto warning, pboc crackdown, pboc warning, software firm<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The People\u2019s Bank of China (PBOC), the country\u2019s central bank, has shut down a software firm over suspected involvement in cryptocurrency transactions. The central bank also warned organizations not to \u201cprovide premises, commercial display, advertising \u2026 and other services for cryptocurrency-related business activities.\u201d China\u2019s central bank warned companies on Tuesday against assisting cryptocurrency-related businesses as&hellip;<\/p>\n","protected":false},"author":0,"featured_media":9209,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9208"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9208"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9209"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}