Spot probe on bit­coin ex­changes

China Daily (Canada) - - BUSINESS -

China’s cen­tral bank launched spot in­ves­ti­ga­tions on bit­coin ex­changes in Bei­jing and Shang­hai onWed­nes­day, it said in sep­a­rate state­ments. The in­ves­ti­ga­tion of bit­coin ex­changes, in­clud­ing BTCC, Huobi andOKCoin, was to look into pos­si­ble mar­ket ma­nip­u­la­tion, money laun­der­ing, unau­tho­rized fi­nanc­ing and other is­sues, ac­cord­ing to the state­ments posted on the Peo­ple’s Bank of China’s web­site. The cen­tral bank added that the pur­pose of the in­ves­ti­ga­tion was to fend off mar­ket risks. China’s steel as­so­ci­a­tion. Ac­cord­ing to the of­fi­cial China Se­cu­ri­ties Jour­nal, China Iron and Steel As­so­ci­a­tion Chair­manMa Guo­qiang said the cen­tral govern­ment has al­ready de­cided to launch a tougher crack­down on the prod­uct, and will make sure that all pro­duc­tion ca­pac­ity is shut down be­fore the end of June this year. COM­PA­NIES& MAR­KETS

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