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 Chinese government seriously intends to keep its money at home.
The current price slump is strongly connected with attempts of China to shore up the yuan.
Mark Karpeles has explained how bitcoin exchanges can avoid collapse similar to that of the closed cryptocurrency exchange Mt.Gox.
Nearly 80% of all bitcoin trading volume is driven by the Chinese national currency.
It may be the beginning of the end for CoinDesk’s foray into indexing as a whole new ballgame is being served up to the web’s number one bitcoin publication.