China taking Bitcoin on a dive again makes WSJ MoneyBeat BitBeat
More coverage from Wall Street Journal:
– Beijing still seems to matter for the price of bitcoin. Given that Chinese trading in the digital currency has dried up considerably since the government first started cracking down on banks’ interactions with bitcoin businesses in December, you’d think the market’s capacity to be surprised might have similarly dried up.
But here we are, once again, with reports of some negative statements by officials at the People’s Bank of China and bitcoin’s international price is down sharply. Specifically, today’s $40 drop is being attributed a report in Caixin Online that central bank officials had held meetings with various commercial banks and reiterated their concerns about banks providing services to bitcoin businesses.
The report said that during the closed-door meetings, the officials “specifically criticized various commercial banks for continuing to do business with BTC China,” the country’s largest bitcoin exchange.
Friday’s report comes just two weeks before the Global Bitcoin Summit in Beijing, which organizers are billing as the “first global bitcoin conference in China.” It will feature prominent bitcoin personalities such as entrepreneur Roger Ver and journalist and Ethereum founder Vitalik Buterin. (Michael Casey)
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