Officials in China ban venues from hosting Crypto Events in Beijing’s Finance District

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Beijing finance district

As per reports, as of Wednesday, August 22nd, the district Government of downtown Beijing has ordered all hotels, restaurants, shopping malls, and office building to not provide venues for any sort of activities that promote cryptocurrencies.

The document was first circulated online on Wednesday, August 22nd, and according to it the district government has imposed a ban on commercial properties from hosting any kind of event which promotes “cryptocurrency talks and promotion.”

As per reports, the financial service department of Beijing’s Chaoyang district issued the missive on August 17th.

Giving confirmation that the document is authentic an official from the department said that it was issued given the recent observations of promotional activities hosted in commercial properties. However, no further details were provided by the official who preferred to remain anonymous.

According to the document, the financial service department aims to protect the financial safety of the public, and also strengthen the position of Chinese yuan as the legal currency in China which they believe will, in turn, alleviate the country’s financial system.

A statement from the document reads, “All hotels, shopping malls, restaurants, and office building are hence ordered to not provide venues for any events that promotes cryptocurrency in any way if such activities are found they must report it to the authority.”

Joel Picardo

Joel Picardo

Joel Picardo has been in the startup space for the last 5 years and has worked with startups in the cryptocurrency and digital marketing industry. He founded GeekyMint along with his co-founder SafdarAli with a mission to provide well-reseached articles in the cryptocurrency, finance, technology, blockchain, software, and startup sector

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