Bitcoin in China still chugging along, a year after clampdown
A year after China began tightening regulations around Bitcoin, the virtual currency is still thriving in the country, albeit on the fringes, according to its largest exchange.
A year after China began tightening regulations around Bitcoin, the virtual currency is still thriving in the country, albeit on the fringes, according to its largest exchange.
Chinese banks may be cutting ties to Bitcoin suppliers, but that isn't stopping a local Bitcoin exchange from making physical cash a way to buy the cryptocurrency.
Chinese banks may be cutting ties to Bitcoin suppliers, but that isn't stopping a local Bitcoin exchange from making physical cash a way to buy the cryptocurrency.
Once the largest Bitcoin exchange in the country, BTC China has seen better days. Trading volume on the site is down over 80 percent from its peak, and customers are fleeing amid rumors China is preparing a crackdown on the virtual currency, said the exchange's CEO Bobby Lee.
China's recent clampdown on Bitcoin appears to be forcing the nation's largest exchange to stop accepting deposits, dealing a major blow to the virtual currency in the nation.
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