Chinese officials shut down high-profile blockchain center
BTC Peers
Published Jul 10, 2021 01:37PM ET
Updated Jul 10, 2021 02:00PM ET
Chinese officials shut down high-profile blockchain center
The China Blockchain Application Center has been shut down by the Beijing Municipal Civil Affairs Bureau for allegedly disrupting “the management order of social organizations.”
According to an official announcement from the bureau on June 21, the research center, a local chamber of commerce, and an educational institution have all been directed to cease operations.
China Blockchain Application Research Center", "Huameng Beijing Chamber of Commerce" and "National Happy School Community" carried out relevant activities in the name of social organizations without registration, disrupting the order of social organization management.The order to cease operations may not be unconnected with China’s renewed efforts to clamp down on crypto mining and trading activities. The region’s tough stance on cryptocurrencies has foiled the plans of several crypto-based companies in the region. A few days ago, Binance has been sent packing from Chinese cyberspace. Similarly, the International Blockchain Consulting Group (IBC) recently shut down its entire Bitcoin and Ethereum mining operations in China, BTC PEERS reported.
Interestingly, amid China’s ongoing crackdown on cryptocurrencies, the Asian nation is actively pushing its digital Yuan project. The country is arguably leading the development race for central bank digital currencies (CBDCs).
Continue reading on BTC Peers
Get The News You Want
Written By: BTC Peers
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.