Movie88.com, the Taiwanese online movie company that rented blockbuster films for $1, has been shut down for streaming movies without the permission of copyright owners.

Taiwanese authorities, working with assistance provided by the MPA, issued the order Tuesday.

"We are grateful to the Taiwanese authorities for their swift action in shutting down movie88.com," MPA chairman and CEO Jack Valenti said. "Their resolve to pursue this matter is a testament that no pirate should feel secure as long as he continues to try to profit from the theft of copyrighted works."

Both the Taiwanese government and the MPA, the international counterpart of the MPAA, have stated their intent to jointly pursue any necessary follow-up action.

"Internet piracy is a crime with a global reach affecting every creator and copyright owner, consumer and the economy," Valenti said. "We cannot afford to regard this form of piracy casually."

While in operation, Movie88 had a posted notice that asserted everything offered on the site was "lawful and free from copyright infringement under the laws of the Republic of China" (HR 2/6).

U.S. releases "Shrek," "Legally Blonde," "Spy Kids" and "The Tailor of Panama," many films in Chinese and other languages and popular American television series like "Friends" were among the offerings that could be viewed at Movie88.