Report: China to ban all cryptocurrency trading
Regulators in Beijing will suspend and then shut down all trading platforms for digital currencies in China, domestic news outlet Yicai Global reported on Thursday, quoting an unnamed source. The person is "close to" a regional authority involved in the reform of the financial technology sector, the article added. The leak is similar to information learned earlier by the media in the West. BTC China exchange today said it will halt all trading on the last day of September, citing the Bank of China's ban on initial coin offerings and its warnings about the risk of fraud and formation of bubbles in the market.
The Bitcoin was 7.44% lower at $3,563.4 at 5:14 pm CET, after touching $3,413.4, the lowest point since August 11. But it is still 269% since the start of the year. The valuation in yuan declined 14.05% to 21,305.91. Earlier, the cryptocurrency weakened to 19,597.32, a level unseen since August 5. One coin bought €3,029.5, a decrease of 6.52% for the day. Spinoff cryptocurrency Bitcoin Cash was 12.31% lower at $446.1.