China Shutting Down Bitcoin Exchanges

Chinese authorities have ordered Bitcoin exchanges in Beijing and Shanghai to submit their plans to close operations by September 20. The county is citing financial risks associated with criminal activity, including drug trafficking, money laundering, smuggling and unauthorized fundraising activity.

Will different countries follow suit? Can bitcoin grow without a huge country like China? Will people lose confidence? The value of the bitcoin has swung wildly in the last month after the bitcoin split from $2,500/bitcoin to $5,000. Very risky investment IMO.

Leave a Reply

Your email address will not be published. Required fields are marked *