11 Sep '17, 6pm

China is shutting down domestic Bitcoin exchanges

China plans to shut down domestic Bitcoin exchanges, anonymous sources told The W all Street Journal today. The sources said that regulators weren’t giving a clear message on when the shutdown would occur. One regulator told an exchange that the decision had already been made, while another said the decision might take a few months. In response to the news, the Bitcoin prices have dipped to a low of $4,108, according to CoinDesk . China is home to vast and lucrative cryptocurrency mining operations for both Bitcoin, Ethereum, and other cryptocoins. Three Chinese exchanges — Bitfinex, OkCoin, and BTCC — made up over 45 percent of the global market share over the last 30 days, according to Bitcoinity.org . Bitcoin’s growing popularity in China may have caused the government to begin to perceive it as a threat to local currency, especially as Chinese investors bought up bitco...

Full article: https://www.theverge.com/2017/9/11/16288898/china-shutdow...

Tweets

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