11 Apr '14, 5pm

This week in bitcoin: Price falls amid Chinese regulation crackdown rumors

This week in bitcoin: Price falls amid Chinese regulation crackdown rumors

Rumors continue to swirl that China is starting to crack down on bitcoin trading by freezing some bitcoin exchange’s bank accounts. In an announcement posted on its site yesterday, BTC Trade said that it had received notice from its bank that its account would be frozen on April 15 if it does not stop using it to conduct bitcoin-related business. Chinese exchanges Huobi and BTC100 also posted notices that they had received similar calls about their bank accounts. At the same time of the announcements, the price of bitcoin took a huge tumble, falling nearly 18 percent in one day.

Full article: http://gigaom.com/2014/04/11/this-week-in-bitcoin-price-f...

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