China Lenient on Bitcoin – Business Insider – Bitcoints


Published on January 11th, 2017 | by bitcoin


China Lenient on Bitcoin – Business Insider

Amid bitcoin’s continued price volatility, which has been attributed to fluctuations in investor activity in China, more detail has emerged on the meeting the People’s Bank of China (PBOC) held with several bitcoin exchanges last week, according to Reuters.
However, the bitcoin exchanges involved have rejected such theories, saying instead that the purpose of the meeting was to reiterate the importance of platforms’ abiding by existing relevant regulations.
But the widespread proliferation of bitcoin in China may lead to new regulation in the future.
China is indisputably the location of the majority of global bitcoin trading, with domestic exchanges claiming they account for more than 90% of global trading volume.
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