Bitcoin prices plunged by nearly 10% today after rumors circulated that the People’s Bank of China ordered more than 10 Bitcoin exchanges to close their trading accounts, Bloomberg reported. Caixin, an independent Chinese news organization, said a PBOC notice required accounts to be shut down by April 15, preventing Chinese Bitcoin investors from transferring funds to the exchange. The PBOC has sought to limit dealings that may be used to launder money or evade capital controls. It barred financial institutions and payment companies from dealing in Bitcoin or Bitcoin-linked products on December 5.
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