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China Runs Checks on Bitcoin Exchanges

posted by n1 on Friday January 13 2017, @04:03PM   Printer-friendly
from the buy-gold-now!-call:-555-SOYLENT dept.

randomerr writes:

The People's Bank of China started spot checks on major Bitcoin exchanges starting a dip in the digital currency value for fears of a crackdown. China's central bank inspections of BTCC, Huobi, and OKCoin were conducted to find any potential regulatory breach. The news caused at least a 12 percent dip in the price of Bitcoin against the US dollar. Bitcoin was trading around $910 early-Wednesday and by late-Thursday.was down to $759.

In a separate announcement, its Shanghai unit said its officers visited BTCC to check on the exchange's operations and assess if it functioned within regulatory policies on financing, forex business, and anti-money laundering, among others.

Bitcoin's value last year climbed 125 percent, becoming the best-performing currency globally against other currencies issued by central banks.

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  • (Score: 2) by maxwell demon on Saturday January 14 2017, @07:28AM

    by maxwell demon (1608) on Saturday January 14 2017, @07:28AM (#453730) Journal

    Buy Bitcoin put options, and then demand the amount of Bitcoins that allows to get the desired amount of dollars using those options, plus the cost of the options. Just as is done in other volatile markets.

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    The Tao of math: The numbers you can count are not the real numbers.
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