Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Bitcoin Slides as China's Central Bank Launches Checks On Exchanges

An anonymous reader shares a Reuters report: China's central bank launched spot checks on leading Bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.

Read more of this story at Slashdot.



This post first appeared on Werbung Austria - Slashdot, please read the originial post: here

Share the post

Bitcoin Slides as China's Central Bank Launches Checks On Exchanges

×

Subscribe to Werbung Austria - Slashdot

Get updates delivered right to your inbox!

Thank you for your subscription

×