No Free Ride for Bitcoin in China

Bloomberg/Christopher Langner/01-08-17
Anyone wondering how serious China is about stemming the outflows that brought its currency reserves to their lowest since February 2011 need only to look at bitcoin.

The cryptocurrency has plunged more than 18 percent since Jan. 4, as news began to leak that it had attracted the attention of regulators in China.

…What is clear is that, for all the claims of bitcoin being free from the shackles of any central authority, Beijing holds a lot of influence over it.

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