“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/
Related posts:
Schools Have Created a Generation of Permit Pattys and BBQ Beckys
Glenn Greenwald: Bradley Manning: the face of heroism
Chicago Police Superintendent Says Cops Will Shoot Gun Carrying Citizens
NDAA Judge: Executive Branch "Known To Make Things Up"
New York Property Firm Offers Steep Discount For Bitcoin Payments
Investors Are Plowing Into European Bitcoin Firms
Ben Swann Reality Check Special: Drones HD
Crypto prof asked to remove NSA-related blog post
Where Do Your Air Fare Taxes and Fees Really Go?
Russell Simmons: Prisons profiting from putting kids in jail
7 surveillance reforms Obama supported before he became president
How a total n00b mined $700 in bitcoins
The Final American Revolution: Adam Kokesh vs. Stefan Molyneux
One Man’s Quest to Prove Saudi Arabia Bankrolled 9/11
In 2017, 100 Times More Americans Were Killed by Police Than Terrorists