Published on September 10th, 2017 | by bitcoin0
China Is Shutting Down Local Bitcoin Exchanges Causing Price to Plummet
This time, as Reuters spotted, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China.
In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.
But do bitcoins have value in China if you can’t exchange them?
But if you go on Chinese exchanges, the crash is even more important.
Back in 2013, bitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan.