Chinese cryptocurrency community Bishijie shut down by regulators

·1 min read
FILE PHOTO: Picture illustration of small toy figurines and representations of the Bitcoin virtual currency displayed in front of an image of China's flag

SHANGHAI (Reuters) - Bishijie, a Chinese cryptocurrency community and information provider, on Thursday ceased operation of its app and website in mainland China, saying it violated central bank regulations.

Bishijie, or Coin World, said on its website that it is "actively cooperating with regulators, and taking corrective measures as required."

China's state council, or cabinet, vowed in late May to crack down on bitcoin trading and mining, citing underlying financial risks.

Bishijie, a world for cryptocurrency trading, is dedicated to simplifying investment decisions, according to its website.

It provides news, social network, and trading information for cryptocurrency investors in China and Korea, according to its website.

(Reporting by Samuel Shen and Andrew Galbraith; Editing by Sonya Hepinstall)

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