Beijing Financial District Bans All Crypto-Related Promotions from Venues

Beijing Bans Crypto Promotion Events At Venues

Beijing’s financial services department of Chaoyang district has recently passed an ordinance banning downtown shopping malls, hostels, restaurants, and office buildings from providing venues for activities that promote cryptocurrencies. The document showing the ordinance circulated online on Wednesday and it described the types of commercial properties effected by the ban.

It further specified banning events relating to “cryptocurrency talks and promotion.” A department official confirmed with media sources that the document is authentic and added that the department issued it after observing promotional activities hosted in commercial properties.

The document also identifies the purpose of the ordinance, which seems to be to protect the financial safety of the public, to improve the position of the Chinese yuan as the legal currency, and to stabilize the country’s financial system. The document further adds,

“We now order every shopping mall, restaurant, hotel, and official building not to provide venues for any events that promotes or talks about cryptocurrency and must report to the authority if such activities were found.”

This is not the first time anti-cryptocurrency and blockchain activities have taken place in China. In April, Shanghai officers halted a blockchain-themed conference and cancelled the event. According to rumors, the initial coin offering boot promoted the issue.