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China Shuts Down Software Maker Over Suspected Crypto-Related Activity, Issues Industry-Wide Warning

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

The People’s Bank of China (PBOC), the country’s central bank, has shut down a software firm over suspected involvement in cryptocurrency transactions. The central bank also warned organizations not to “provide premises, commercial display, advertising … and other services for cryptocurrency-related business activities.” China’s central bank warned companies on Tuesday against assisting cryptocurrency-related businesses as it shut down a software firm over suspected involvement in crypto transactions, AFP reported. The Beijing office of China’s central bank ordered the closure of a software firm called Beijing Qudao Cultural Development. The central…

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