Chinese biggest bitcoin exchanges unveiled on Sunday they will impose trading fees, as the government is tightening control over digital currency.
The People’s Bank of China found some violation of rules in the operations of major bitcoin exchanges.
China’s central bank unveiled plans to more closely inspect operations of digital currency exchanges in an effort to curb the yuan’s outflow.
Bitcoin price demonstrated a sharp drop on Friday after the central bank of China warned users of the threats associated with the investment in digital currency.
The current price slump is strongly connected with attempts of China to shore up the yuan.
On Monday, Bitcoin price smashed through a new high increasing from $340 up to over $360. Moreover, the cryptocurrency kept soaring across various exchanges. Today Bitcoin hit $400 mark.
The Rise Conference speakers share their opinion on the prospects of Bitcoin.
Nearly 80% of all bitcoin trading volume is driven by the Chinese national currency.
OKCoin achieved higher bitcoin trade volumes than other exchanges, including leaders Bitstamp and Bitfinex.
OKCoin’s futures platform allows bitcoin users to set fixed values and also reduces the risk of price volatility.
China’s major virtual-currency exchange BTC China has suspended yuan deposits from the Bank of China, according to a tweet sent from its account.
Bitcoin has been hit once again by the Chinese regulatory hammer as the crackdown gets stronger, due to the warnings issued by People’s Bank of China.