11 Sep '17, 4am

Bye, bitcoin: China to ban trading of virtual currencies

BEIJING — Chinese authorities plan to shut down domestic bitcoin exchanges, delivering a final blow to a once-thriving industry of commercial trading for virtual currencies, which took off inside the mainland four years ago. The country’s central bank has led a draft of instructions that would ban Chinese platforms from providing virtual currency trading services, according to people familiar with the matter. The move comes after months of scrutiny by Beijing, including a ban last week in China on initial coin offerings, a kind of fundraising via virtual currencies. Regulators in China have been investigating the domestic market for bitcoin BTCUSD, -0.58% and other virtual currencies since the beginning of the year. For a while, officials considered enacting anti-money-laundering rules on exchanges, even circulating a draft of such rules for them to follow. But the stakes ...

Full article: http://www.marketwatch.com/story/bye-bitcoin-china-to-ban...

Tweets

via @markets

bloomberg.com 11 Sep '17, 5am

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150...

via @WSJ

wsj.com 11 Sep '17, 3am

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