China has blocked the country’s Bitcoin exchanges from accepting new inflows of cash, a move that imperils the much-hyped virtual currency in its biggest market.
The head of BTCChina, the largest Bitcoin exchange by trading volume, said he had received word at midday yesterday that his platform would no longer be able to accept renminbi from would-be Bitcoin buyers.
“As of right now, we have received notice from our third-party payment company that they will disallow customers from making deposits into our exchange,” Bobby Lee, a former Yahoo developer who co-founded BTCChina this year, told the Financial Times.
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