Bitcoin Drops as China to Denmark Seek to Control Digital Money
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Bitcoin prices plunged against the yuan and the dollar after China’s largest online market for the virtual currency stopped accepting Bitcoin deposits and Scandinavian authorities said they will impose regulations.
Bitcoin fell as much as 49 percent to 2,011 yuan ($331) on BTC China, which said its payments subsidiary YeePay would no longer offer deposit services. Against the dollar, Bitcoin declined as much as 43 percent on the Bitstamp, an online market where the digital money can be traded for legal tender.