Leading To A Drop In Value China Has Banned Bitcoins

Leading To A Drop In Value China Has Banned Bitcoins

By | Dec 11, 2013

Leading To A Drop In Value of the digital currency, Bitcoins bans in china.

The country’s central bank has forbidden financial institutions from processing any transactions in Bitcoins, the currency’s ban joining several existing restrictions and regulations on money in China.

The news, unsurprisingly, has led to a dip in the value of Bitcoins, with each Bitcoin’s worth retreating back across the $1,000 (£613) mark crossed earlier this month.

The currency’s value has recovered a little since the announcement, but stills sits 10 per cent lower than the $1,200 (£735) average seen at the start of the day.

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