Categories
Investment

Bitcoin platforms suspend yuan deposits

Two Bitcoin exchanges in China suspended customer deposits after the central bank ordered payment companies and banks to close their Bitcoin trading accounts by April 15, The Wall Street Journal reported. Global prices for the digital crypto-currency edged lower by roughly 3% since the initial adjustments by Chinese exchanges on Wednesday evening, continuing a decline from last week when Chinese media reported the regulatory shift. But PBOC’s behind-the-scene regulatory directives have yet to scare Chinese investors and other Bitcoin exchanges, all of which announced that they will still allow transfers through banks.

Leave a Reply

Discover more from China Economic Review

Subscribe now to keep reading and get access to the full archive.

Continue reading