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May China ban Bitcoin?

The prices of the cryptocurrency Bitcoin collapsed below the $800-level on Wednesday, after China's central bank said it launched spot investigations on major bitcoin exchanges.

The investigation of bitcoin exchanges, including BTC China, Huobi and OKCoin, was to look into possible market manipulation, money laundering, unauthorized financing and other similar issues.

Prices on U.S.-based exchanges are down about $375, or 33%, over the past week, as China took steps to crack down on the virtual currency.
Bitcoin soared nearly 125% in 2016 amid heavy buying from China, as investors look to shield themselves from currency depreciations and capital controls.

So we ask ourselves, may China ban Bitcoin? At least China will tighten rules on the digital currency to curb capital outflows...

Thursday, 12 Jan, 2017 / 11:46

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