China: No Bitcoin Processing For Domestic Payments Companies

The move follows the central bank’s announcement that Chinese banks are banned from using or investing in bitcoin.

Since the announcement, the price of Bitcoin fell more than $200 on Chinese exchanges as domestic investors moved to sell their holdings.

To keep track of the latest bubbly developments in the bitcoin market, read the most recent installment of our Bitcoin Bubble Tracker by clicking here.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.