Bitcoin Crashes After Chinese Exchange Says It Will Halt Trading

bloom

Bitcoin fell for a fifth day, the longest losing streak in more than a year, after one of China’s largest online exchanges said it would stop handling trades by the end of the month amid a government crackdown on cryptocurrencies. BTC China will immediately stop accepting new account registrations on its BTCChina Exchange, Chief Executive Bobby Lee said Thursday in a tweet. The decision was made after “carefully considering” the Sept. 4 announcement by Chinese regulators that outlawed initial coin offerings, he said. The cryptocurrency has slumped as much as 27 percent since Sept. 7. It had risen more than four-fold this year amid greater acceptance of the blockchain technology that underpins the exchange method, global political uncertainty and increased interest in Asia…

Read more : Bloomberg, 14.09.2017