Why Does China Ban Bitcoin Exchanges ?

The People’s Bank of China (PBOC) announced in early September that virtual currencies such as Bitcoin were suspected of supporting criminal activities such as illegal fund-raising, financial fraud and pyramid schemes, and implemented an immediate halt to their use. In response, the three biggest Bitcoin exchange platforms in China, BTC China, Huobi.com and OKCoin, have announced that they will stop all trading by the end of September.

Sep 25, 2017