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Bitcoin value is currently recovering despite authorities clamping down on Chinese exchanges.
Politics

Chinese crackdown casts shadow on cryptocurrency market

Major bitcoin exchange shutting down within days

YUSHO CHO, Nikkei staff writer | China

SHANGHAI -- The international virtual currency market, which is often hailed as a stateless realm, is at risk of being hobbled under the heavy hand of Chinese financial regulators.

Authorities here have gone as far as issuing travel bans on exchange operators. An executive at a Shanghai exchange was effectively ordered to not leave the city, as the authorities demanded "cooperation" in protecting investors. Managers of Beijing exchanges OKCoin and Huobi have reportedly been forbidden to leave the country.

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