China's central bank warns companies against crypto-related businesses

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China's central bank warns against assisting cryptocurrency-related businesses as it shutters a software firm over suspected involvement in digital currency transactions

A small toy figurine on representations of the Bitcoin virtual currency displayed in front of an image of China's flag, on April 9, 2019

Beijing has turned a sharp eye on cryptocurrency in recent months as it widens its regulatory crackdown on the tech sector. On Tuesday, a Beijing office of the central bank ordered the closure of software company Beijing Qudao Cultural Development, alleging it had been involved in providing software services for cryptocurrency transactions.

The bank also warned organisations not to "provide premises, commercial display, advertising... and other services for cryptocurrency-related business activities".

 

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