China’s Regulatory Pressure On Crypto News Websites
A crypto news website Bishijie based in China announced to shut down their website & app. They are doing this because they are ready to comply with central bank regulations of china.
China crackdown on Crypto ban results in a big loss for many crypto related services, while most of the miners moved to crypto friendly countries but those services which are not able to move from China because of lack of support are forced to shut down their services. It is shocking that Cryptocurrency related news websites are also ordered to close down their services to provide information about the crypto market.
Related: Texas Becoming Hot-Spot For Mining Firms After China’s War On Crypto
Bishijie is a crypto news platform from China which gives information about cryptocurrency related services, launch, crypto price analysis since 2017. It’s founder is Chenhui Tan.
At 9 p.m. local time yesterday, Bishijie announced to shut down their services & application which had more than 40 million users. They stated:
“In order to comply with cryptocurrency-related regulations published by the People’s Bank of China, and to “actively cooperate with regulators,” it would be “taking corrective measures as required.”
Bishijie stopped publishing news in English language and right now they are updating news in Korean language. But they deleted/unlisted all industry information from their website.
And also they didn’t respond about their announcement after the last announcement which was made at 9 PM.
We have checked all the pages like community page and homepage. They are alive without any further announcement regarding this matter.
Many local news websites are claiming that Bishijie may move their website services in another country or may take help of another crypto service to operate their business from another country where rules and regulations are crypto friendly for their website.
It should be noticed, ban of crypto mining & Trading was not subjected to closed news websites. But further Chinese authorities comes into action at this matter and then on 6 July they published another notice warning and stated
“institutions in its jurisdiction were not allowed to provide services such as operational venues, commercial displays, marketing or payment channels for business activities related to cryptocurrencies”
So according to this new restriction, news websites should shut down their services.
Read also: Hong Kong’s Financial Authorities Ready To Response On Crypto Legislative Proposals
