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Forex

China risks capital slipping out bitcoin back door

HONG KONG -- With stocks plunging and the yuan weaker against the dollar, the Chinese economy may face yet another avenue for capital flight: the borderless digital currency bitcoin.

     The yuan hovered in the 1,400 range against the bitcoin around the start of 2015 on China's BTCC exchange for the cryptocurrency. But the redback began losing ground noticeably in the fall, weakening beyond 3,000 in December. A bitcoin now fetches just over 2,600 yuan.

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