News Snapshot:
China's central bank warned companies on July 6 against assisting cryptocurrency-related businesses as it shut down a software firm over suspected involvement in digital currency transactions. Beijing has turned a sharp eye on cryptocurrency in recent months as it widens its regulatory crackdown on the tech sector. Cryptocurrency trading is banned in China, and authorities have recently closed mines and warned banks to halt related transactions. On July 6, a Beijing office of the central bank ordered the closure of software company Beijing Qudao Cultural Development, alleging it had been involved in providing software services for cryptocurrency transactions. The move...
