Hafez Financial Services


Notice: Undefined variable: post_id in /home/yjs0k3qiupy6/public_html/wp-content/themes/asycom/single.php on line 19

From mining to software: China’s regulatory crackdown on crypto continues


Financial institutions, crypto miners and now, software companies — where will regulators in China move to strike next?

Financial regulators in China have shut down a Beijing-based software company they suspect of providing services to crypto traders.

In a Tuesday joint statement, the Beijing Financial Supervision and Administration Bureau and the Business Administration Department of the People’s Bank of China issued a warning to all financial institutions and payment service providers to not provide any crypto-related services to customers.

As part of a regulatory crackdown, they had ordered the shutdown of Beijing Tongdao Cultural Development, a company that allegedly provided software services for crypto transactions. Regulators reported they had also suspended the firm’s website.

Leave a Reply