Beijing bans banks from Bitcoin deals

 
 
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Thursday December 05 2013
 
 
Breaking news
 
Beijing bans banks from Bitcoin deals
 
China has taken a tough line against Bitcoin, ruling that it is a virtual product, not a currency, and barring the country's financial institutions from doing any kind of business in it.
Surging Chinese demand has been one of the main drivers of Bitcoin's 5000 per cent appreciation this year. The notice from Chinese financial regulators, published on Thursday, is the first official policy ruling from Beijing about the virtual currency.
 
 
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