China bitcoin exchange says no govt pressure on outflows
Shanghai
THE head of a major bitcoin exchange in China says few people there use the crypto currency to get around rules on how much money they can take out of the country, and despite a publicised meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows.
Bitcoin's price took a steep dive on Friday after China's central bank cautioned investors to take a rational and careful approach to investing in the digital currency. The price had surged to record highs.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Labour mayor wins cap triumphant election run for Starmer
100 years on, SICCI to focus on internationalisation, digitalisation and sustainability
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk