Cryptocurrency

China Central Bank Blocks Website Of A Cryptocurrency-Related Company, Bitcoin (BTC) Falls

The Central Bank of China has blocked the website of a company suspected of providing software services for trading cryptocurrencies.

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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 once again reminded businesses and banks that they should not participate in cryptocurrency processes or assist crypto trading or mining companies in any form.

Beijing Tongdao Cultural Development was suspected by the Bank of China Business Department to provide software for cryptocurrency trading. This is 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 to move 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.

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