Already reeling from a regulatory onslaught, Bitcoin exchanges in China are braced for yet another blow from the central bank that would hit their survival.
The People’s Bank of China is considering whether to order the country’s banks to close Bitcoin trading accounts, according to people familiar with the matter. If that goes through, it would eliminate the last big channel by which people in China can buy the virtual currency.
Caixin, a local financial magazine, first reported the ban last week, saying it would come into effect by April 15. But the country’s Bitcoin exchanges say they have not yet received notices from their banks and that business continues as usual, for now.
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