China said to call for Bitcoin exchange halt by month-end - BBG

Dhwani Mehta FXStreet

Bloomberg quoted people familiar with the matter, as saying that China has notified regional regulators that it aims to stop exchange trading of cryptocurrencies by the end of September, as the Chinese policy makers seek to quickly reign in the growth of cryptocurrencies.

China’s regulatory crackdown has fueled a 30% sell-off in bitcoin from its all-time high on Sept 1. According to Bloomberg, China accounts for about 23% of bitcoin trades and is also home to many of the world’s biggest bitcoin miners.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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