El Banco Popular de China cerró una empresa de TI debido a su participación en criptomonedas
One of the main offices of the People's Bank of China issued a direction to close the Beijing Qudao Cultural Development due to its "involvement" in cryptocurrencies.
The Beijing financial policy, together with the leadership of the PBC, declared that the IT firm is presumed to be affording assistance related to financial actions involving digital currencies. The official site of the firm is no longer available at the moment.
It is not yet known what exactly became the true reason for the blocking. Nevertheless, Colin Wu tweeted that Beijing Qudao Cultural Development owned virtual tokens, Mao Li Coin, also named Cat Coin.
In a joint utterance, the regulators also emphasized that today there is a strict restriction on the provision of business assumptions for the crypto business, as well as the implementation of paid services and economic activities linked to digital currencies in the country.
China is serious. First, a mining ban, then warnings for the largest banks, and limitations on all financial transactions related to cryptocurrencies, and now it has come to those who are even indirectly linked to digital tokens. At the same time, some representatives of the crypto industry are convinced that this only proves the power of bitcoin.
One such optimist is Zap Protocol co-founder Nick Spanos. According to him, if tough measures from the second-largest economy in the world are not able to stop the main digital currency in the market, devalue it or manipulate its value, it is an “unstoppable machine”.
Mike Novogratz has a similar opinion, who saw many positive aspects in the attempt to “suppress” bitcoins by China. He stated that the temporary market crash amid the actions of the Middle Kingdom became a good test for the digital currency ecosystem.
But will the IT company be able to regain its good name, or will the Chinese Banhammer be unstoppable?