19岁大学生真人免费观看电视剧,小说极品岳母,日本伦理三级成人电影,久久爱福利电影,真实的与子乱刺激对白,波多野结高清无码中文dvd,神马三级伦理片,他最野了小说全文,聪明的妻子怎么面对老公外遇

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Bitcoin trade plunges in China after tighter regulation

Xinhua | Updated: 2017-02-16 08:18

Bitcoin trade plunges in China after tighter regulation

Trading volume on China's major Bitcoin exchanges has plunged in the past week, since authorities tightened regulation of the digital currency. [Photo/VCG]

BEIJING - Trading volume on China's major Bitcoin exchanges has plunged in the past week, since authorities tightened regulation of the digital currency.

BTCChina, Huobi and OKCoin, the country's three major Bitcoin trading platforms, have seen their daily transaction volume tumble from around 20,000 last week to around 6,000 at Tuesday's close. Bitcoin prices - between 6,700 yuan ($980) and 6,800 yuan on Tuesday - are down by more than 10 percent.

The fall came after China's central bank warned exchanges last week against margin trading and money laundering, which was swiftly followed by withdrawal of some business on the exchanges.

Bitcoin, without ties to any bank or government, is underpinned by blockchain technology, a digital ledger system. It allows users to spend and transfer money anonymously, a handy tool for money laundering and capital flight.

Exchanges also offer margin trading, which allows investors to trade Bitcoins using borrowed funds to capitalize on price fluctuations but which also amplifies risk. The collapse in trading volume was mainly due to the end of margin trading, said Zhao Yao, a researcher with the Chinese Academy of Social Sciences.

Zhao warned that margin trading, by its nature highly leveraged, could stoke speculation, and only better regulation will avoid liquidity strains.

The value of Bitcoins surged in the second half of 2016 but plummeted after surpassing 8,000 yuan ($1,165) per unit early in January.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US