Bitcoin Falls After Report Claims China Orders Exchanges to Shut
- Chinese markets Huobi and Okcoin say no order received
- China earlier this week outlawed initial coin offerings
Bitcoin Tumbles After China Halts Initial Coin Offerings
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Bitcoin fell as much as 7.3 percent in the U.S. after a report claimed Chinese regulators ordered the nation’s digital exchanges to close, the second blow to the $150 billion cryptocurrency market after the country earlier this week outlawed initial coin offerings.
A document has been issued for local Chinese regulators to implement the shutdown, Caixin reported today, citing unidentified people close to the nation’s internet financial risk prevention team. Earlier, bitcoin prices dropped 18 percent on the Chinese trading platform Huobi.com.