Advertisement

China is clamping down on smaller bitcoin trading channels

From Engadget - September 18, 2017

There's nothing official yet, and it's not clear when these restrictions would take effect if approved.

It wo not be shocking if China institutes these tougher measures, though.The government has never really supported cryptocurrencies like bitcoin, and has lately argued that they create too much "disorder."Part of that stems from economic instability (people were buying bitcoin and selling the yuan), but it's also a question of control.Chinese authorities want to track the movement of money, and it's harder to do that with a decentralized digital format it does not own.

Advertisement

Continue reading at Engadget »