ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Bitcoin and other digital currencies lost value after China banned initial coin offerings.
Currencies

Chinese coin offering crackdown deals cryptocurrencies a beating

$18bn worth of market cap wiped out in a single day

KOTARO FUKUOKA, Nikkei staff writer | China

TOKYO -- A new Chinese ban on the use of digital currencies for fundraising sent the value of bitcoin and its rivals plunging on Tuesday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more