Banned in China , Bitcoin Price Free Fall
Posted by riefa riefa on Wednesday, December 18, 2013
Under: International
jualan sepatu keren dan murah The value of virtual currency , bitcoin , dropped by
more than 50 percent in China on Wednesday ( 18.12.2013 ) , after the
communist state to prohibit the use of Bitcoin transactions in all
regions of the country .
So far , China has made speculators from Bitcoin value had soared to 7588.88 yuan ( 1,250 U.S. dollars, or approximately USD 15 million ) on Nov. 30 . But on this day , the value of Bitcoin fell to 2,245 yuan .
Bitcoin price fell because two weeks ago , the Chinese central bank has banned all financial institutions do not sell Bitcoin and financial products related to digital currency because it could potentially be used for money laundering .
China's central bank is very strict control of the yuan , including capital flows in and out of the country . This is in contrast with the Bitcoin exchange rate naturally occurring or highly refer to the market .
Reports earlier this week showed China's monetary authorities have banned third-party payment companies providing clearing services for Bitcoin , and on this day stop service provider Bitcoin Chinese yuan deposit . However , withdrawal is permitted .
" If the yuan deposit for Bitcoin platform is closed , then the entire transaction does not apply to domestic , " said James Gong , a currency Bitcoin Foundation .
He estimates , Bitcoin transactions are likely to be carried out illegally in China along with the ban .
So far , China has made speculators from Bitcoin value had soared to 7588.88 yuan ( 1,250 U.S. dollars, or approximately USD 15 million ) on Nov. 30 . But on this day , the value of Bitcoin fell to 2,245 yuan .
Bitcoin price fell because two weeks ago , the Chinese central bank has banned all financial institutions do not sell Bitcoin and financial products related to digital currency because it could potentially be used for money laundering .
China's central bank is very strict control of the yuan , including capital flows in and out of the country . This is in contrast with the Bitcoin exchange rate naturally occurring or highly refer to the market .
Reports earlier this week showed China's monetary authorities have banned third-party payment companies providing clearing services for Bitcoin , and on this day stop service provider Bitcoin Chinese yuan deposit . However , withdrawal is permitted .
" If the yuan deposit for Bitcoin platform is closed , then the entire transaction does not apply to domestic , " said James Gong , a currency Bitcoin Foundation .
He estimates , Bitcoin transactions are likely to be carried out illegally in China along with the ban .
In : International