Tuesday, 19 September 2017

China orders Bitcoin exchanges in capital city to close by 20 September

China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities.

All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.

The move follows the Chinese central bank's decision to ban initial coin offerings in early September.
Top exchange BTCC said it would stop trading at the end of the month.

Chinese authorities decided to ban digital currencies as part of a plan for reducing the country's financial risks.
A website set up by the Chinese central bank warned that cryptocurrencies are "increasingly used as a tool in criminal activities such as money laundering, drug trafficking, smuggling, and illegal fundraising".

BBC      News.

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