World Economy

Bitcoin Tumbles

Bitcoin TumblesBitcoin Tumbles

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, Reuters reported. 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. Two sources in direct contact with officials at three Chinese bitcoin exchanges—Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi—said the platforms told them that they have not heard anything from the Chinese government.


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