January 11, 2017

Bitcoin Plummets After China Launches "Market Manipulation" Investigations Of Bitcoin Exchanges

The price of bitcoin slid over 1,200 Yuan in heavy trading in China, crashing nearly 20%, and down more than $100 under $800 on comparable US markets Wednesday, after China's central bank said it had launched "spot investigations" on bitcoin exchanges in Beijing and Shanghai in order to fend off market risks.

The investigation of exchanges, including BTCC, Huobi and OKCoin, was to look into "possible market manipulation, money laundering, unauthorized financing and other issues",.. Read more.

Zero Hedge

Related,
Bitcoin plunges as Chinese authorities step up scrutiny - MarketWatch

- Bitcoin surges above 1,000 dollars to kick off new year - Xinhua
China warns against use of Bitcoin - Xinhua

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