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.