China Delivers Final Blow, Shuts Bitcoin Exchanges This Month

China plans to shut down domestic Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchanges by the end of September, delivering the final blow to the nation’s industry of cryptocurrency trading, anonymous sources told Chinese financial news outlet Yicai.

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The sources said that regulators have finally given a clear message on when the shutdown will occur, adding that the exchanges will be ordered to leave the market after taking off inside the mainland four years ago.

Yicai's report cited a source close to decision-makers: “It has been set for the end of September, the order has come from above.”

Another source told China Business News that the financial watchdog in Shanghai gave verbal instructions to Chinese platform operators to stop providing virtual currency trading services.

The move comes after months of scrutiny by Chinese regulators, including a ban imposed earlier this month on fundraising via initial coin offerings (ICOs).

In response to the news, the price of Bitcoin has dipped to a low of $3,360, according to CoinDesk.

Earlier today, China's second largest Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, BTC China, announced that it will cease all trading operations by the end of September.