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Bitcoin

Chinese investors bemoan Beijing’s bitcoin crackdown

BEIJING: Beijing's decision to shut down bitcoin trading platforms has left investors scrambling to cut their losses and threatens to deprive the crypto-currency of a crucial market. "The authorities don't understand anything about bitcoin!" fumed Zhang Yanhua, founder of an investment fund that was dead on arrival after Beijing started tightening the screws at the start of the month. In mid-September the central bank, the People's Bank of China, told virtual currency trading platforms based in Beijing and Shanghai to…

Top Chinese bitcoin exchange shuts down

BEIJING: One of the biggest bitcoin exchanges in China and the world announced Thursday that it would stop all trading following new Chinese government regulations clamping down on crypto-currencies. The international value of bitcoin has plunged in recent days amid speculation that the Chinese authorities will shut down the trading platforms following last week's ban on initial coin offerings. BTCC -- China's second bitcoin platform in terms of volume and the world's third largest -- said on its Twitter account that…

Things to know about ‘mysterious digital currency’ Bitcoin

TOKYO: Mark Karpeles, the former CEO of collapsed Bitcoin exchange MtGox, went on trial in Tokyo on charges stemming from the disappearance of hundreds of millions of dollars worth of the virtual currency from its digital vaults.  Here are some key facts about the world's most widely used crypto currency: What is Bitcoin? Bitcoin is a virtual currency created from computer code. Unlike a real-world unit such as the US dollar or euro, it has no central bank and is not backed by any government. Instead, Bitcoin's…