A Beijing office of China's central bank said on Tuesday it had ordered the shutdown of a Beijing-based software maker over its suspected involvement in cryptocurrency trading.

Authorities ordered Beijing Qudao Cultural Development Co. Ltd. to suspend operations, and its website had been deactivated, the Beijing financial supervision administration and a department of the People's Bank of China said in a joint statement.

The move is to prevent and control the risk of cryptocurrency trading speculation, and protect the safety of the people's property, the statement said.

"Relevant institutions within our jurisdiction shall not provide business premises, commercial displays, marketing, and paid traffic generation for virtual currency-related business activities. Financial institutions and payment institutions within the jurisdiction shall not directly or indirectly provide virtual currency-related services to customers," authorities warned in the statement. 

Authorities also reminded consumers that they should enhance their risk awareness and establish correct investment concepts, not participate in cryptocurrency trading hype nor blindly follow the trend of virtual currency-related speculation.

(With input from Reuters)

(Cover via CFP)