Secret China Regulator Meeting Makes Bitcoin Volatile Again
Bitcoin dropped 3% Wednesday after news broke of a closed meeting between Chinese exchanges and the People’s Bank of China (PBoC). Money Laundering ‘On Agenda’. The talks, which are ongoing, are the latest in a series of investigatory moves by regulators, who have expressed concerns about the legality of certain financial practices. Local news resource cnLedger said the meetings were unconfirmed, but Bloomberg quoted unnamed sources stating the the meeting was indeed going ahead. Bitcoin has been sensitive to regulatory moves in China since a trading frenzy over the new year period sent....
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