ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Bitcoin value is currently recovering despite authorities clamping down on Chinese exchanges.

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.

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