The value of the bitcoin has fallen further following the extension of China's strict code of conduct.
The value of the bitcoin has now reached Rs 5.1 million after hitting a 12-day low. On June 18, authorities in the southwestern Chinese province of Sichuan ordered the closure of cryptocurrency mining projects.
Bitcoin production in China is more than half of the world's bitcoin production. The People's Bank of China has called on Alibaba and other major banks to stop corrupt trading.
China's central bank said it had recently summoned some banks and business firms, including China Construction Bank and Alpay, urging them to tighten cryptocurrency trading.
According to Cambridge University, cryptocurrency mining is scarce, but bitcoin in China accounts for about 65% of global production. China's Sichuan Province is its second largest producer.
Agricultural Bank of China (Egg Bank) is China's third largest lender in terms of assets. The Agricultural Bank has said that it will take strict measures to curb illegal activities related to crypto mining and transactions.
ElPay said in a separate statement that it would set up a surveillance system targeting key websites and accounts to track illegal crypto-related transactions.
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