“While the PBOC doesn’t appear ready to ban Bitcoin outright, they appear determined to drive it out of the Chinese banking system. The Chinese government apparently was concerned over investor speculation in the digital currency, and in particular in the use of Bitcoin to move money outside the country. Once people started using Bitcoin to bypass China’s strict capital controls, the government almost had no choice but to cut it off from the banking system. For China’s Bitcoin exchanges, which include BTC China and OKCoin, the news is bad but not necessarily fatal. But longer term, this is just another pebble in the stream.”
http://moneymorning.com/2014/04/02/bitcoin-prices-whipsawed-looming-china-crackdown-long/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Bitcoin Has Gone On An Insane Surge
Google CEO wants to 'set aside a part of the world' for unregulated experimentation
U.S. Removed Mubarak Over Refusal To Allow Permanent Military, Spy Installations?
U.S. Government Wins Appeal in Kim Dotcom Extradition Battle
Teenagers arrested for killing neighbor’s turkey with bow and arrow
ATF's Operation Gideon Raises Questions of Fairness, Justice, and Race
Bitcoin & Anarchy with Jeff Berwick
NYPD shoot at man with finger gun, hit elderly woman with walker, others
Old Assets Revitalized by the Energy Boom
Watch out, startup communities: The Congressmen are coming
France wants to 'temporarily suspend' trade talks with US over NSA spying
Argentina’s grand plan to recover US dollars is about as worthless as its own currency
4 New Bitcoin Features Revealed by Core Developer Mike Hearn
Why did Charlie Chaplin renounce the America which made him world-famous?
Bitcoin offers privacy—as long as you don't cash out or spend it