Skip to main content

An Additional Blow: Central Bank of China Closes a Company That Aids Cryptocurrency Transactions.

 


China haven't stop repeating its combative position in opposition to the cryptocurrency corporation as it stares up another threat targeted at native firms.

A local company that was suspected to be rendering software services to Cryptocurrency companies have been closed by People's Bank of China. As usual, the price of bitcoin fell following the unfavorable news.


It was reported that China's central bank shut down a company known as Beijing Tongdao Cultural Development Co. because they were suspected to have been aiding software assistance to firms carrying out cryptocurrency transactions.


They also stated that their position about cryptocurrency still stands and they are not ready to reconsider because of high risks for investors and all those involving themselves in the cryptocurrency industry. 


The statement "seriously" threatened every applicable institutions not to aid virtual currency-linked services in any way at all.


The Public Bank of China said that customers should be very careful as regards the risks involve in cryptocurrencies. As a matter of fact, they should stay away from it to safeguard their funds.


This is another big blow by the world's most populated country in opposition to the industry. They escalated their actions in May through prohibiting miners from running their mining rigs in the country.


Its remarkable that recent shots from Asian affected the market and today's news was not an exception.

Comments

Popular posts from this blog

  Pick a niche The Blockchain and Crypto space is large and full of opportunities. Most people limit the industry to just a place to trade and make quick cash little do they know that you can actually build a career and achieve much more. There's a lot of skills required in blockchain technology. Firstly, you can become a trader, a day time trader or night trade it all depends on your schedule. You can actually make 10 to 20% of your capital daily or even more depending on the volume of your capital and trading strategy. you can become an investor who spots good coins and invests in a project you believe will do well, you can hodl, meaning you can buy and hold for short or long term period.  OTC trading is actually underrated, you can become an over the counter trader by just buying and selling cryptocurrency through the P2P Platforms or escrow groups, there's a lot of money to be made here if you move volumes on a daily. You can become an expert in technical analysis and give
WHAT YOU NEED TO KNOW ABOUT  NON FUNGIBLE TOKENS NFTs (or "non-fungible tokens") are a kind of digital asset with a unique kind of token-unlike other assets like bitcoin and dollar bills which have a particular and fixed amount that is accepted by all, NTFS have a unique price for every token. Every NFT is Unique, they can be used to authenticate ownership of digital assets like musical records, artwork, virtual real estates and pets. NFTs could be likened to a kind of certificate of authenticity for digital artefacts. They're are actually been used to sell a huge range of collectables currently including: *A tweet by Dallas Mavericks owner and entrepreneur Mark Cuban. *Video art by Grimes *The Original "Nyan cat" meme *Virtual real Estate in a place called Decentraland  and others...   As other digital assets like Bitcoin and other cryptos has grown in popularity over the years, NFTs have also soared — growing to an estimated $338 million in 2020. Each NFT is s
FUTURES TRADING MADE EASY! Do you want to become an expert in Futures trading? or you want to know how to take advantage of the market in futures trading? Here's an opportunity you wouldn't want to miss to build your portfolio and make money trading the futures market. Don't miss this opportunity to improve and build on your knowledge. Join SYDA and our team of experts as they take you on this journey. Register with the link below. Join this 1-day Futures Trading Class that will expose some of the trading tips you need to know. Meeting Link: https://t.co/6xo9BTD0LV Tweet Link: https://twitter.com/syrex_academy/status/1380121037669609475?s=20