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© Reuters.Chinese officials shut down high-profile blockchain centers
The China Blockchain Application Center was shut down by the Beijing Municipal Bureau of Civil Affairs for allegedly disrupting the “social organization management order”.
According to the bureau’s official announcement on June 21, research centers, local chambers of commerce and educational institutions have all been instructed to cease operations.
“China Blockchain Application Research Center”, “Huameng Beijing Chamber of Commerce”, and “National Happy School Community” carry out related activities in the name of unregistered social organizations, disrupting the order of social organization management.
The order to stop operations may be related to China’s renewed efforts to crack down on cryptocurrency mining and trading activities. The region’s hardline stance on cryptocurrencies frustrated the plans of several cryptocurrency-based companies in the region. A few days ago, Binance was packaged and sent from the Chinese cyberspace. Similarly, according to BTC PEERS, the International Blockchain Consulting Group (IBC) recently closed all of its mining operations in China.
Interestingly, while China continues to crack down on cryptocurrencies, the Asian country is actively promoting its digital projects. It can be said that the country is leading the central bank digital currency (CBDC) development competition.
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