The People’s Bank of China has blocked the website of a company suspected of providing software services for cryptocurrency trading.
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According to Bloomberg Terminal and 8BTC, Beijing Tongdao Cultural Development Co., Ltd. is suspected of providing services on cryptocurrency trading, and its website has been blocked by a department of the People’s Bank of China (PBoC). The People’s Bank of China has once again reminded businesses and banks not to participate in cryptocurrency transactions or assist crypto trading or mining companies in any way.
Beijing Tongdao Cultural Development was suspected by the Bank of China Business Department to provide software for cryptocurrency trading. This happened despite the Chinese government’s latest bank dealing with cryptocurrency trading and mining in the country.
Bitcoin, Ethereum, and other PoW cryptocurrency miners are either losing their jobs and selling their platforms, or are leaving China and moving to friendlier countries with cheap electricity or friendlier governments like Canada or Kazakhstan.
Bitcoin fell after these news. At the time of writing, BTC was trading around the 34,000 level.