China's New Rules: What Do They Mean for Bitcoin?

China's New Rules: What Do They Mean for Bitcoin?

A joint statement from China's authorities had an interesting impact on bitcoin's value last week. The statement served as a 'notice' highlighting that "bitcoin is not issued by the monetary authorities", and that it's "not the true meaning of money". The release also states that bitcoin "cannot and should not be used as currency in circulation in the market". Let's examine. China's growing presence in bitcoin. China has been a booming market for bitcoin. Since early November, the world's leading bitcoin exchange has been BTC China. BTC China has just received $5m in venture capital....


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