Recently, new news emerged that the Beijing-based cryptocurrency exchange BISS was shut down and 10 people were arrested by the Chinese police.

According to DoveyWan on Twitter, this news circulated in China two weeks ago, and has only now been revealed to the West, although it is unclear why.

As evidence you link “DoveyWan” article Posted on sohu.com describing the shutdown event.

broke down

(He’s been known in the Chinese crypto community for two weeks by the way “the news” just came out)

A Beijing-based crypto exchange has been arrested by the local police (a relatively well-known and up-and-coming exchange)

More than 10 people have been arrested

Read:Turkish city plans to launch its own digital currency!

🗝 🦖 (DoveyWan) November 22, 2019

China continues its assault on cryptocurrencies:

The article referred to above shows that the government is moving forward with its fight against cryptocurrencies and shows the broad effort that the government authorities are making towards it.

Quoted from the article:

To prevent the recurrence of illegal financial activities in virtual currency transactions and effectively protect the interests of investors…

Also to emphasize that the closure of BISS was done in the public interest

The article ends with:

It is hoped that investors will be vigilant against the above-mentioned illegal financial activities, report relevant illegal violations in a timely manner, and beware of being deceived.

BISS trading platform:

This news comes on the heels of the recent report that the People’s Bank of China (PBoC) is tightening its regulations on all forms of cryptocurrency trading.

It may not be surprising what happened with the BISS trading platform as the news of the shutdown came after the decision of the People’s Bank of China.

Read:Bursa Malaysia Explores Blockchain Technology and Incorporates It into the Bond Market

In recent weeks and months China has been somewhat vociferous and media buzz about its stance on blockchain rather than bitcoin.

It even went so far as to broadcast an hour-long TV show explaining that the government does not support cryptocurrencies.

It also comes as new programs are being tested in parts of the country to reduce the volume of unregulated financial transactions.

Not everyone felt the news of the BISS shutdown was dangerous.

Read:Argentine banks are testing a new system based on the blockchain

While some questioned whether the closure of BISS was a real reality, or was it just news to sow doubt and fear in Chinese circles.

Assuming the report is correct, it appears that China is making good on its promises to crack down on what the government considers illegal trading.

If this continues then it is expected that we will see more platforms closing in the coming months, but it is impossible to know how quickly these measures will be implemented.

What is clear, however, is that China is not acting in the interests of decentralized asset enthusiasts, and this does not appear to change, at least until recently.

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