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

Bitcoin Price Tumbles on This Potential Threat In China

Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback.

Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China.

The news follows China's move earlier this week to ban so-called "initial coin offerings," or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects.

Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban.

Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country.

READ MORE (Fortune)

  • Bitcoin Tumbles on Report China to Shutter Digital Currency Exchanges‍​U.S. News & World Report
  • China is reportedly closing cryptocurrency exchanges, so bitcoin and ether are ...Quartz
  • Bitcoin price drops following report that China is going to shut down local ...TechCrunch
  • Russia to Regulate Bitcoin Market: Finance MinisterU.S. News & World Report
  • Bitcoin Falls After Report Claims China Orders Exchanges to ShutBloomberg
  • Bitcoin's price tanks after report China may shut down exchangesCNBC
  • Bitcoin and Ethereum are being hammered on rumours China will shut local exchangesCity A.M.
  • Report Casts Doubt on Future of China's Bitcoin ExchangesCoinDesk
  • Bitcoin's price drops after report that China may shut down exchangesDaily Sabah

This post first appeared on The 5th News, please read the originial post: here

Share the post

Bitcoin Price Tumbles on This Potential Threat In China


Subscribe to The 5th News

Get updates delivered right to your inbox!

Thank you for your subscription