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

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. This includes not permitting businesses to advertise or provide office space for any “virtual currency-related business activities.”