WSJ, Bloomberg Latest to Claim Bitcoin Exchange Crackdown in China


Bloombergand the Wall Street Journal are reporting that China will move to closed down bitcoin exchanges, mentioning unnamed “informed sources.”

Accordingto the reports, the restriction will be restricted toexchange-based trading and will not impact non-prescription deals. China’s biggest bitcoin exchanges, OKCoin, BTCChinaand Huobi, informed Bloomberg on Monday that they still have yet to be called relating to any trading restriction.

Notably, Bobby Lee, CEO of China’s earliest bitcoin exchange, BTCC, published a survey on Twitter recommending that he is not entirely convinced by the news.

TheWall Street Journal reported that they had actually called the People’s Bank of China (PBoC)– the nation’s reserve bank– for remark, however it had yet to react.

Thereports significantly follow a current restriction on preliminary coin offerings (ICOs) in China, in addition to an increase in attention on anti-money laundering policies locally. For example, the PBoC today put out a notification highlighting its ongoing interest in stemming monetary criminal offenses and capital flight, 2 concerns long alleged to be linked to its tracking of cryptocurrency.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BTCC.

Shenzen finance districtimage through Shutterstock

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