Cryptocurrency dealers and online lenders feel heat in China
Bitcoin plunges on reported moves to close digital currency exchanges
Exchanges dealing in bitcoin and other virtual currencies are facing a clampdown ahead of a Chinese Communist Party congress in October, according to a report by business news provider Caixin.
SHANGHAI -- China is scrambling to minimize risks to its financial system ahead of a key Communist Party congress in October, at which new leaders will be selected.
On Friday, Caixin, a Chinese business news outlet, reported that financial authorities have decided to shut down virtual currency exchanges.
Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.
Celebrate our next chapterFind out more
Free access for everyone - Sep. 30